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12 Jun 2013
German CPI next: Impact on EUR/USD
FXstreet.com (Barcelona) - With EUR/USD mostly unchanged during the Asia-Pacific session treading water above the 1.3300 figure, last at 1.3313, chief analyst at Fxstreet.com Valeria Bednarik thinks upcoming German CPI will fail to be a market mover.
“There’s little that German inflation report can do at this point to harm the EUR, even if the number comes below expectations,” Bednarik says, “unless the deviation is outrageous from the current/expected levels in between 1.0/1.5%,” Bednarik notes.
Our in-house analyst thinks that a reading above expected should cool down any chances of and ECB rate cut, and subsequently keep the Euro well bid, while a reading below 1.0% "could put the EUR under pressure this Wednesday,” the analyst concludes.
“There’s little that German inflation report can do at this point to harm the EUR, even if the number comes below expectations,” Bednarik says, “unless the deviation is outrageous from the current/expected levels in between 1.0/1.5%,” Bednarik notes.
Our in-house analyst thinks that a reading above expected should cool down any chances of and ECB rate cut, and subsequently keep the Euro well bid, while a reading below 1.0% "could put the EUR under pressure this Wednesday,” the analyst concludes.