The main currency pair is moving without any significant fluctuations on Tuesday and waiting for the US inflation report.
On Tuesday morning, EURUSD is rather inactive; investors are saving strengths in anticipation of the US statistics to be published in the evening. The current quote for the instrument is 1.2330.
In today’s macroeconomic calendar, there is a report on the US inflation rate, which is very important for the currency market: it will surely serve as a basis for investors and economists so that they could make assumptions about future fiscal activities of the US Federal Reserve. As it was said by Jerome Powell in his first speech as the new Chairman, the regulator’s key rate might be revised four times in 2018 if economic factors allowed, and the stable inflation was one of them.
Expectations on the Consumer Price Index imply that the indicator may add 0.2% m/m in February after expanding by 0.5% m/m the month before. On YoY, in the previous month the CPI increased up to 2.1%, so now this reading may be lower.
It’s very important to follow the Core Inflation as well. The expected change of the indicator is +0.2% m/m after adding 0.3% the month before.
Right after these reports are published, investors’ attention will switch to the speech of Mario Draghi, the Governor of the European Central Bank, which is scheduled for Wednesday.
RoboForex Analytical Department
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
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