The Euro stopped growing. Overview for 18.01.2017

The main currency pair couldn’t keep yesterday’s positive momentum.

The EUR/USD pair is being corrected on Wednesday after significant growth the day before. The current quote for the instrument is 1.0683.

The daily statistics from the Eurozone was predictable. The Inflation Rate Final in December 2016 added 1.1% y/y, just as expected. The Final Core CPI expanded by 0.9% y/y in December and matched expectations as well. The Inflation Rate Final in Germany also improved as expected, by 0.7% m/m.

The market’s attention is becoming more sensitive to small details. Later this week, there will be many events, which are significant to investors. Tonight, besides scheduled statistical reports, Janet Yellen, the Governor of the USA Fed is going to speak. Market players are very interested in more or less exact time this year when the regulator will increase the interest rate, this is why they will be hungry for any possible hints made by Yellen.  

In the evening, the USA are going to publish reports on the inflation and the industrial production in December, as well as the Beige Book.

Thursday will be less disturbing: the European Central Bank is going to have its first meeting this year. Joint steps relating to the QE program are obvious, but the ECB might provide some updated evaluations concerning the Eurozone’s economy. The more confident these evaluations, the better for the Euro.

RoboForex Analytical Department