EUR/USD FINDS FURTHER ROOM ON THE LOW SIDE, EXTENDS RECENT DECLINES
- EUR/USD slides as German Imports tumble, pan-EU PPI slips further.
- EUR/USD tested into 12-week lows in Monday’s decline.
- German Trade Balance rises on accelerating Import declines.
The EUR/USD fell another half-percent on Monday, dragging the pair into 12-week lows near 1.0723 after EU economic data failed to inspire investor confidence. The OECD sees pan-European inflation holding above the European Central Bank’s (ECB) 2% until sometime after 2025, hampering money market’s expectations for rate cuts from the ECB, further suppressing upside potential in the Euro (EUR).
This week still brings European Retail Sales for December as well as the ECB’s latest Economic Bulletin, with Friday rounding out the economic calendar with Germany’s Harmonized Index of Consumer Prices (HICP) for January.
- EUR/USD slides as German Imports tumble, pan-EU PPI slips further.
- EUR/USD tested into 12-week lows in Monday’s decline.
- German Trade Balance rises on accelerating Import declines.
The EUR/USD fell another half-percent on Monday, dragging the pair into 12-week lows near 1.0723 after EU economic data failed to inspire investor confidence. The OECD sees pan-European inflation holding above the European Central Bank’s (ECB) 2% until sometime after 2025, hampering money market’s expectations for rate cuts from the ECB, further suppressing upside potential in the Euro (EUR).
This week still brings European Retail Sales for December as well as the ECB’s latest Economic Bulletin, with Friday rounding out the economic calendar with Germany’s Harmonized Index of Consumer Prices (HICP) for January.
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