EUR/USD: Key levels to watch as US inflation spikes to a 13-year high

The EUR/USD declined after the latest Eurozone industrial production and US consumer inflation data. It fell to 1.2072, which is about 1% below this week’s high of 1.2180. The Eurozone economy seems to be recovering at a slower speed than that of China, the United States, and the UK. This performance is partly because of the supply disruptions that happened in the first quarter and the lockdowns implemented by many governments. According to Eurostat, the bloc’s industrial production rose by just 0.1% in March after falling by 1.2% in the previous month. This growth was lower than the median estimate of 0.7%. … (full story)

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