The euro (EUR) fell against the dollar (USD) on Monday, putting the EUR/USD currency pair below 0.1400.

The recent increase in the pair’s price could be due to the consumer price index (CPI), among other things.

On January 12, 2022, the US Bureau of Labor Statistics (BLS) will release the consumer price index (CPI) number. Economists estimate that the CPI would continue at 0.4 percent, compared to 0.8 percent the month before.

To determine price trends, the CPI analyses the retail prices of a representative shopping basket of products and services. The CPI is a tool for tracking inflation and changes in purchasing habits. In general, a higher greenback reading is positive (or bullish).

Similarly, the US Census Bureau revealed the unemployment rate today, which showed a low level when compared to the previous month’s data. It divides the total civilian working force by the number of unemployed workers. If the percent slows, it means the labor market in the United States is expanding.

The EUR/USD pair is strengthening at 1.1323, as of this writing. On the downside, the NZD/USD pair’s price could benefit from support levels, which could provide a pull for the pair.

Conclusion

In short to medium-term trading, given the pair’s micro-macro-economic outlook during the last several days, selling the pair around current levels would be a sensible move.