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CFDs are complex financial instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. CFDs are complex financial instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

EUR/USD: US CPI and Fed speak today

USD outperformance takes pair’s price slightly lower, Fed starts corporate bond purchases.

Jerome Powell Source: Bloomberg

EUR/USD Technical analysis, overview, strategies, and levels

The US dollar was a clear outperformer yesterday amongst the FX majors, besting the euro and taking EUR/USD's price to a slightly lower finish keeping it below all its main moving averages. There's going to be a lack of significant Eurozone data until Friday, but out of the US we get CPI (Consumer Price Index) figures tonight expected to show contraction, and NFIB’s (National Federation of Independent Business) small business index set to show a big drop for the month of April. The New York Fed yesterday said it would starting corporate bond purchases, and we'll get Fed speak this evening from officials' Bullard and Harker.

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EURUSD TA Source: IG charts

IG client* and CoT sentiment for EUR/USD

In sentiment, retail bias hasn't risen but dropped instead to a majority long 62%, slightly below the bias held by larger speculative traders.

EURUSD sentiment Source: IG charts

EUR/USD Chart with retail and institutional sentiment

EURUSD chart Source: IG charts

*The percentage of IG client accounts with positions in this market that are currently long or short. Calculated to the nearest 1%, as of today morning 8am.

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This information has been prepared by IG, a trading name of IG Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
CFDs are a leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your initial deposit, so please ensure that you fully understand the risks involved.

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