Euro area GDP figures due in the midweek, after Tuesday’s US CPI inflation.
An appearance from ECB President Lagarde due later in the week.
EUR/USD tested 1.0800 on Monday, but broad-market flows remain tepid in thin action to kick off the new trading week. A light data calendar on Monday will give way to a fresh print of US Consumer Price Index (CPI) inflation figures on Tuesday, and investors will be keeping a close eye on price growth figures from the US.
The euro area sees Gross Domestic Product (GDP) figures on Wednesday, to be followed by an appearance from European Central Bank (ECB) President Christine Lagarde on Thursday. The US’ Tuesday CPI inflation gives way to US Retail Sales on Thursday.
Daily digest market movers: EUR/USD capped by descending 200-day SMA as markets await data
Quiet Monday leaves EUR/USD constrained in a familiar midrange.
Bullish momentum remains capped by median technical barriers.
Higher lows continue to push higher despite constrained momentum.
Tuesday’s US YoY Core CPI inflation is expected to tick down to 3.7% from 3.9%.
January’s MoM CPI headline inflation forecast to hold steady at 0.2% after the Bureau of Labor Statistics introduced changed seasonal adjustment methods, December’s figure gets revised down from 0.3%.
Euro area GDP growth is broadly forecast to hold steady at 0.11% for the year ended in the fourth quarter.
US Retail Sales expected to ease -0.1% in January compared to December’s 0.6% gain
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