Русский
EURUSD:
EUR/USD continued to explore the bearish side of the charts on Monday, falling towards 1.0200 for the first time since late 2022 and recording a fresh 26-month low before half recovering during the day.
European economic data remained weak throughout the trading week. The European Central Bank (ECB) will continue to cut interest rates, further widening the Euro’s interest rate differential against the US Dollar. The final EU and German inflation data released mid-week is not expected to deviate much from the preliminary data.
The US Producer Price Index (PPI), which is expected to rise to 3.7% y/y in December from the previous reading of 3.4%, will start the week with the release of important data on Tuesday. US CPI inflation, also released on Wednesday, is forecast to rise to 2.8% from 2.7%, while US retail sales data is expected on Thursday.
Trade recommendation: Watching the level of 1.0200, trading mainly with Sell orders
Origin: FreshForex
