US Core CPI m/m comes in at 0.3% against 0.2% consensus
| Pair | Now | Since publish |
|---|---|---|
| EURUSD | — | — |
| USDJPY | — | — |
US Core CPI month over month for September was released at 0.3%, exceeding the consensus forecast of 0.2%. This figure also came in higher than the previous month’s reading of 0.2%. The actual print represented a 44.9% surprise against the consensus expectation.
Following the release, initial market reaction saw USD strengthen against major pairs. For example, EURUSD moved -14 pips within five minutes. However, this trend largely reversed over the subsequent hour. One hour after the release, EURUSD was up 9.5 pips, while GBPUSD was up 6.1 pips. USDJPY, after an initial +18 pip rise, was down -44 pips one hour out. XAUUSD saw a significant move, ending up +518 pips one hour after the release. For context, the median 1-hour move for EURUSD after past releases is 20 pips, and for XAUUSD it is 51 pips. The 1-hour moves for AUDUSD, NZDUSD, USDCAD, and USDCHF were relatively small compared to their respective median 1-hour moves of 15 pips.