8:30am NY time
Actual: 0.2% Forecast: 0.2% Previous: 0.1%
Change in the price of goods and services purchased by consumers, excluding food and energy. Food and energy prices account for about a quarter of CPI, but they tend to be very volatile and distort the underlying trend. The FOMC usually pays the most attention to the Core data – so do traders, consumer prices account for a majority of overall inflation. Inflation is important to currency valuation because rising prices lead the central bank to raise interest rates out of respect for their inflation containment mandate.
Update: Based on the market context, we were able to make 28 pips of profit