Eurozone CPI rises more than expected- EUR/USD steady but not higher

The latest Eurozone CPI data covering the preliminary reading for April has just been released and it was hotter than forecast. The monthly rise was 0.6%, where it was forecast to rise by 0.5%. The core annualised rate was at 2.7%, where 2.5% was expected. The immediate reaction in the EUR/USD saw it push a little higher, but it was already elevated relative yesterday and earlier today. The high seen yesterday was set at 1.1341 and the high so far today has been set at 1.1338. Perhaps if it can lift above 1.1341 then it might extend, but that is not guaranteed. Also, with the very important US jobs report looming later, it may want to think twice about getting ahead of itself. We shall see. The Euro is pretty steady though after those numbers, as one might expect. EU unemployment did also edge higher though, from 6.1% to 6.2%. That is a modest drag. The EUR/USD is right now at 1.1328