EURUSD Ahead of the US CPI Data

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EURUSD Ahead of the US CPI Data

Yesterday, the US PPI final data for December showed 0.2% versus a 0.3% estimate, and YoY 3.3% vs. 3.4% estimate.

This data created slight weakness for the USD, as the market anticipates the FED may cut rates more than once this year.

Today, we await the CPI data, another important event for the US Dollar.
If the data is lower than expectations, we may see the EURUSD moving up further and the USD becoming weaker, which could help the EURUSD rise.

If the CPI data aligns with or exceeds expectations, the USD may remain strong but not excessively. The market may await further moves from Trump before establishing a new trend.

Consumer Price Index (YoY) (Dec) Expected: 2.9% vs. 2.7% the previous month

Consumer Price Index ex Food & Energy (YoY) (Dec) Expected: 3.3% vs. 3.3% the previous month

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