EUR/USD remains stable in anticipation of US inflation figures.
The primary currency pair continues its period of consolidation this Wednesday, with the current EUR/USD exchange rate at 1.0747.
The week thus far has seen no significant US economic data releases. The most intriguing developments are expected to unfold today with the release of the US Consumer Price Index (CPI) report for August. According to forecasts, inflation could have risen to 3.6% year-on-year from the previous 3.2%. On a monthly basis, a 0.6% surge is expected today, compared to 0.2% in the previous report.
Core inflation is anticipated to maintain its growth rate at 0.2% month-on-month. If the data aligns with these expectations, market reactions are likely to be subdued.
In parallel, the Eurozone is gearing up to unveil industrial production statistics for July. Average forecasts suggest that the indicator may have decreased by 0.8% month-on-month following a 0.5% increase in June. Should the data remain in positive territory, it would serve as a favorable factor for the euro.
The post The Euro Holds Steady: Overview for September 13, 2023 appeared first at R Blog – RoboForex.
