EURUSD continues consolidating in anticipation of the US inflation data.
The major currency pair is consolidating on Thursday. The current quote for the instrument is 1.1443.
As a matter of fact, there is nothing going on right now around EURUSD. Investors are focused on the US inflation report for January to be published in the evening. The indicator is expected to show 0.4% m/m after being 0.5% m/m the month before. On YoY, the CPI may update its multi-year highs – that’s another signal in favour of a rate hike after the US Fed March meeting.
While market players are monitoring the US Fed and its signals, the issue of the US-Chinese trade relations remains in the shadow. We’re talking about a new investigation pursued by the White House for China’s tariffs, in case the current negotiations fail to “beat” China’s intentions to buy American goods and energy products.
Actually, Washington is back to trade wars but these exact words have never been mentioned. But the mere fact that Joe Biden’s office considers new tariff-related investigations is negative.
The White House says that all international companies should have equal conditions but the question is – is it ready to do the same?
Source: Roboforex
