EUR/USD found some room higher but still lacks upside momentum.
Final German HICP and CPI inflation brought no surprises.
US CPI inflation, EU GDP figures slated for next week.
The EUR/USD found some room on the high side on Friday, continuing a near-term recovery. However, the pair remains firmly planted on the low side of technical barriers and remains pinned below the 1.0800 price handle.
German inflation figures brought nothing new to the table, confirming initial flash prints, and an adjustment by the US Bureau of Labor Statistics (BLS) made anticipated changes to how seasonal adjustment is calculated in US Consumer Price Index (CPI) figures. Markets jostled after the BLS adjustment, but US inflation figures saw little change, keeping markets on-balance for Friday.
Germany’s final Harmonized Index of Consumer Price (HICP) showed no changes from preliminary prints, with the annualized German inflation rate through January holding at 3.1%.
The US BLS made changes to how seasonal adjustment works for US CPI numbers, with a slight rise in annualized inflation getting offset by a near-term decline after calculations got adjusted.
[US December monthly CPI revised to 0.2% from 0.3%]
Next week brings a fresh print of US CPI inflation, with the YoY CPI through January expected to tick down from 3.4% to 3.0%.
US CPI inflation slated for Tuesday, European Gross Domestic Product (GDP) figures due Wednesday.
Pan-European GDP growth is expected to remain pinned in low territory.
YoY quarterly EU GDP is forecast to print at 0.1%, in-line with the previous annualized quarterly print
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