EUR in consolidation. Overview for 29.01.2024
The primary currency pair remains in a state of consolidation. The current EURUSD exchange rate stands at 1.0847.
Friday’s statistics revealed that the core PCE price index in the US dropped to 2.9% year-over-year in December. It was 3.2% y/y in November, and the forecast suggested a decrease to 3.0%.
This indicates that the inflation component, favoured by the Fed, is also losing strength.
The most intriguing part lies ahead. The US Federal Reserve’s meeting will conclude on Wednesday evening, determining whether the interest rate will be reduced in March or May. This is currently the primary market intrigue.
Market activity is unlikely before the conclusion of the meeting.
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.