The major currency pair is trying to keep its positive momentum; the market is looking stable.
At the beginning of today’s trading session, EURUSD continues growing slowly. The current quote for the instrument is 1.1286.
The inflation reports published by the USA yesterday matched market expectations. The US CPI added 0.2% m/m in February after remaining unchanged the month before. The key contribution was made by energies and food. However, on YoY, the indicator disappointed as it was 1.5% after being 1.6% in January. The target of the US Federal Reserve is 2.0%.
Today, finally there will be several macroeconomic report from Europe In the afternoon, the Euro Area will publish the Industrial Production in January, which is expected to add 1.0% m/m after losing 0.9% m/m in December. In case the actual reading matches expectations, the decline may be considered as eliminated.
In the evening, the USA are scheduled to report on the Producer Price Index in February. According to market expectations, the indicator may add 0.2%% after reducing by 0.1% the month before.
Another report from the USA to be published in the evening is the Durable Goods Orders in January. The indicator may lost 0.5% m/m after expanding by 1.2% m/m in December. This indicator is rather volatile, that’s’ why it would be better to check the Core Durable Goods Orders, which is expected to add 0.1% m/m, the same as the month before. Transport orders, such as airplanes or expensive spare parts, may significantly vary from month to month, that’s why the Core indicator looks more objective.
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.