$EURUSD Forex Signal: Bears Prevail Ahead of US CPI, Bank Earnings
The pair dropped to a low of 1.0833, the lowest level since April 3rd. It has dropped by over 1% from the highest level this month.data scheduled on Wednesday. Economists expect the data to show that the headline consumer price index dropped from 6.0% to 5.2% in March. Core inflation is expected to have jumped to 5.9%, which is still higher than the Fed estimate of 2.0%.
A key concern is that the commercial real estate industry is imploding as vacancies jump and interest rates remain at an elevated level. Embattled regional banks are the biggest lenders to the commercial real estate industry.trend in the past few weeks. It rose to a high of 1.1026 on February 2 of this year and then pulled back to 1.0513 on March 10. The initial price was slightly above the 50% Fibonacci Retracement level.
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