Important Events Today:
1. At 16:30 Moscow time - U.S. Producer Price Index.
2. At 18:00 Moscow time - FOMC Member Neel Kashkari's speech.
The EURUSD pair maintains a positive trend despite a renewed demand for the U.S. Dollar in the early Asian session on Friday. The pair's growth is supported by a risky environment ahead of key U.S. data releases. At the time of publication, the EUR/USD pair is trading at the level of 1.0977.
On January 11, the U.S. Department of Labor reported that initial claims for unemployment benefits for the week ending January 6 reached the lowest level since mid-October, decreasing by 1,000 to 202,000 from the revised previous week's figure of 203,000. The Consumer Price Index (CPI) in the U.S. for December increased by 3.4% compared to the previous value of 3.1%, surpassing the market consensus forecast of 3.2%. The core CPI, excluding volatile food and energy prices, rose by 3.9% YoY in December, exceeding expectations of 3.8%.
Christine Lagarde, President of the European Central Bank (ECB), stated on Thursday that interest rates would be lowered if the ECB is confident that inflation will decrease to the 2% level. Lagarde added that interest rates in the eurozone have peaked after a rapid rise in response to high inflation last year. Traders anticipate at least five rate cuts in 2024, with the first move expected in March or April.
Today, the U.S. Producer Price Index (PPI) is set to be published, with forecasts indicating a 1.3% growth compared to the same period last year in December. Trading recommendation: Buy from the current price level. For more in-depth analytical reviews, you can visit the FreshForex website.
#FinancialEvents #EURUSD #Indices #Dollar #Inflation #Rates #ECB #TradingRecommendation #ProducerPriceIndex #FreshForex #Analytics
1. At 16:30 Moscow time - U.S. Producer Price Index.
2. At 18:00 Moscow time - FOMC Member Neel Kashkari's speech.
The EURUSD pair maintains a positive trend despite a renewed demand for the U.S. Dollar in the early Asian session on Friday. The pair's growth is supported by a risky environment ahead of key U.S. data releases. At the time of publication, the EUR/USD pair is trading at the level of 1.0977.
On January 11, the U.S. Department of Labor reported that initial claims for unemployment benefits for the week ending January 6 reached the lowest level since mid-October, decreasing by 1,000 to 202,000 from the revised previous week's figure of 203,000. The Consumer Price Index (CPI) in the U.S. for December increased by 3.4% compared to the previous value of 3.1%, surpassing the market consensus forecast of 3.2%. The core CPI, excluding volatile food and energy prices, rose by 3.9% YoY in December, exceeding expectations of 3.8%.
Christine Lagarde, President of the European Central Bank (ECB), stated on Thursday that interest rates would be lowered if the ECB is confident that inflation will decrease to the 2% level. Lagarde added that interest rates in the eurozone have peaked after a rapid rise in response to high inflation last year. Traders anticipate at least five rate cuts in 2024, with the first move expected in March or April.
Today, the U.S. Producer Price Index (PPI) is set to be published, with forecasts indicating a 1.3% growth compared to the same period last year in December. Trading recommendation: Buy from the current price level. For more in-depth analytical reviews, you can visit the FreshForex website.
#FinancialEvents #EURUSD #Indices #Dollar #Inflation #Rates #ECB #TradingRecommendation #ProducerPriceIndex #FreshForex #Analytics