EURUSD has risen. Overview for 15.03.2023
The main currency pair gained further on Wednesday. The current quote in EURUSD is 1.0740.
The statistics published the day before from the USA showed that the problem with inflation is still relevant. Consumer price index fell to 6.0% y/y in February compared to the previous value of 6.4%, as expected. Monthly inflation was 0.4% in line with expectations but the core CPI expanded by 0.5% against expectations of an increase by its standard 0.4%.
The maximum inflation rate was recorded in June last year. At that time, the CPI approached 9%.
Yes, prices are rising more moderately now than in January or six months ago. However, the current development (based on the Baseline Report) is not sufficient to indicate a "deceleration" of the inflationary rally.
Today the Eurozone will release its industrial production data. The producer price release is also worth a look. It is just one more piece of the puzzle for the price picture in the USA. Amongst other things the USA will release February retail sales figures where the figure might have fallen 0.3% m/m after a 3.0% increase in January. The more confident the report is, the better for the USD.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is intended for our customers, and is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.