Forex Signal 19/1/2009 (News trading)

On Friday we saw US Core CPI m/m come in a bit lower than expected, but close to expectations hitting that "goldilocks" type level I talked about. This was along with some mixed data but close to expectations on the other CPI numbers. Like I said, a number like this should be EUR/USD positive and it was indeed with a 70 pip gain in the first half hour. It took a minute or so to get moving, but as I thought, the market was a bit relieved at the non-shocking numbers and there was a bit more risk appetite let into the market.Not much going on in the news on Monday largely due to the MLK holiday, so nothing really to preview there. First trade of the week is UK CPI Tuesday morning. We'll take a closer look at the markets then.