RSS Inflation data in focus in European trading today

Currently reading:
 RSS Inflation data in focus in European trading today

Status
Not open for further replies.

Crax Bot

Staff member
Administrator
Amateur
LV
0
Joined
Nov 5, 2021
Threads
9,915
Likes
1,923
Credits
33,522©
Cash
0$
The dollar is keeping steadier in trading today after a mixed showing yesterday. Trump denied softening his stance on tariffs but while yields rebounded, the dollar was still left to lick its wounds from earlier. USD/JPY though is a standout as it snapped back hard, now rising above 158.00 before a couple of verbal interventions from Tokyo.

Looking to the day ahead, US data will be in focus with the ISM services PMI and JOLTS job openings on the agenda. In Europe, inflation data will be the main focus and more so after the hotter numbers from Germany here yesterday. That could help to give the euro a bit of a nudge up if traders tone down ECB rate cut expectations.

For now, traders are still convinced of a 25 bps rate cut later this month. But for the entirety of the year, there is ~98 bps of rate cuts priced in only now. That compares with the ~111 bps priced in towards the end of December here.

0700 GMT - UK December Halifax house prices0730 GMT - Switzerland December CPI figures0745 GMT - France December preliminary CPI figures0830 GMT - Germany December construction PMI0930 GMT - UK December construction PMI1000 GMT - Eurozone November unemployment rate1000 GMT - Italy December preliminary CPI figures1000 GMT - Eurozone December preliminary CPI figures

That's all for the session ahead. I wish you all the best of days to come and good luck with your trading! Stay safe out there.

This article was written by Justin Low at www.forexlive.com.
 
Status
Not open for further replies.
Tips
Top Bottom