EUR/USD continued to explore the bearish side of the chart on Monday (14/1), dropping to the 1.0200 level for the first time since late 2022, carving a fresh 26-month low before staging a half-hearted recovery later in the day.
European economic data remained sluggish throughout the trading week. The European Central Bank (ECB) is set to continue lowering interest rates, further widening the euro's interest rate differential against the US dollar. Final pan-EUR and German inflation figures due mid-week are not expected to deviate significantly from the preliminary figures.
The US Producer Price Index (PPI) figure kicks off the week's key data on Tuesday, which is expected to rise to 3.7% YoY in December compared to 3.4% previously. US CPI inflation, also due on Wednesday, is expected to rise to 2.8% from 2.7%, and US Retail Sales activity is due on Thursday.
EUR/USD continues to plumb the depths of recent bearish momentum, and Fiber is on pace to chalk in a fourth consecutive losing month. The pair has tested the 1.0200 handle for the first time in a little over two years, but the one-sided nature of price action on EUR/USD leaves downside breaks as a sign of continued bearish momentum rather than firm signs of a potential turnaround.(AL)
source: Fxstreet
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