EUR is appreciating moderately. Overview for 12.02.2024

The primary currency pair is rising cautiously on Monday. The current EURUSD exchange rate stands at 1.0795.

Nevertheless, the primary currency pair closed Friday with a decline – marking the fourth consecutive week of losses. The market disregarded the revision of December's US consumer price statistics, which rose less than anticipated. Meanwhile, core inflation appears to remain elevated. However, this failed to impress investors' attention. Market participants are confident nothing will prevent the Fed from cutting interest rates in May.

The market is eager for an interest rate cut, while the Federal Reserve shows no signs of urgency. From the viewpoint of monetary policymakers, the market seems functional. Making informed decisions requires gathering more data.

Today, the macroeconomic calendar lacks events for both the US and Europe. Investors will analyse the available information.

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Source: RoboForex


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