➗✖️FX Market Impact: U.S. CPI

• U.S. June inflation accelerated to 5.4% from 5.0%, this was half a percentage point higher than what markets have estimated into the event

• Reviewing the last five inflation releases, we can see mixed performances in the euro-dollar spot. However, it is clear the dollar outperformed on the June and April prints, where the surprise was 50 and 60 basis points, respectively.

• Going into the intraday stats:

Avg UpperB LowerB

• 30 Minutes: -0.01%, 0.25%, -0.26%

• 60 Minutes: -0.10%, 0.10%, -0.29%

• 90 Minutes: 0.15%, 0.25%, 0.04%