US CPI rose 0.1% mom in May while core CPI rose 0.1% mom. Annually, headline CPI slowed to 1.8% yoy, down from 2.0% yoy and missed expectation of 1.9% yoy. Core CPI slowed to 2.0% yoy, down from 2.1% yoy and missed expectation of 2.1% yoy.
EUR/USD spikes higher after the release but is quickly under pressure again. Deeper fall could be seen towards 1.1251 minor support. But for now, there is no confirmation of short term topping yet with 1.1251 support intact. Rise from 1.1107 could still extend higher through 1.1347.
