EURUSD is consolidating in anticipation of the US inflation data.
The major currency pair is saving strengths on Wednesday while waiting for the inflation report from the USA. The current quote for the instrument is 1.1558.
As for the statistics, today’s trading session is going to be very interesting. The Euro Area is scheduled to report on Industrial Production, which is expected to lose 1.8% m/m in August after expanding by 1.5% m/m in July. A more significant decline will be stressful for the Euro.
The USA is going to publish the Consumer Price Index report, which may show 0.3% m/m and 5.3% y/y. the stronger the readings, the more confident market players will be about an earlier reduction of the American stimulus programme. The Core CPI in the USA may show 0.2% m/m.
This American report is one of the two important reports planned for this week. The second one is the Retail Sales to be published before the weekend.
In fact, investors are currently interested in one thing only – they want the country’s economy to look as stable as possible. In this case, the US Fed may stick to its plan to start reducing the stimulus programme as early as November.
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.