The primary currency pair is consolidating on Thursday. The current exchange rate for EURUSD stands at 1.0940.
US Treasury Secretary Janet Yellen expects a future decline in inflation, primarily due to the slowdown in housing price growth. Housing expenses are recognised to carry the most significant weight within the Consumer Price Index (CPI) structure, accounting for about a third in 2023. This year, the trend will likely persist despite the slower growth rate in the number of new rental agreements.
The observed trends will take some time to alleviate inflationary pressures. Nevertheless, Yellen is confident that this will become evident later this year.
Inflation statistics released earlier indicate a 3.2% y/y increase in prices in the US for February.
Today, the market awaits retail sales data for February and the Producer Price Index (PPI) report for the same month.
Source: Roboforex
