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EUR/USD turns positive near 1.1280

FXStreet (Edinburgh) - EUR/USD keeps pushing higher on Wednesday, now retaking the positive territory near 1.1280.

EUR/USD rebounds from 1.1220

The pair is coming up from session troughs in the 1.1220 area prior to the US CPI data releases, appreciating further as market expectations of a rate hike by the Fed to be announced at tomorrow’s meeting keep diminishing.

Next of relevance for the pair, albeit of lower importance, will be the housing sector gauge by the NAHB index followed by TIC Flows.

EUR/USD key levels

The pair is up 0.02% at 1.1273 with the next resistance at 1.1299 (high Sep.16) followed by 1.1328 (high Sep.15) and then 1.1374 (high Sep.14). On the other hand, a breakdown of 1.1214 (low Sep.16) would aim for 1.1171 (low Sep.10) and finally 1.1131 (low Sep.9).

Two-year treasury yield backs-off from 4-year high

The two-year treasury yield in the US session backed-off from the 4-year high of 0.819% after the data in the US showed the core inflation stagnated in August, while the headline figure printed negative.
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Wage growth just starting to pick up – BOE’s Carney

Bank of England (BOE) governor Mark Carney, in his testimony to the Parliamentary Committee in London, acknowledged the improvement in the wage growth, but stated that they are “just starting to pick up”.
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