EUR begins the week neutrally. Overview for 19.02.2024


The primary currency pair keeps balance on Monday. The current EURUSD exchange rate stands at 1.0775.

This morning, everything is quiet. The US dollar is stable: the country is on holiday because of Presidents’ Day. Intraday activity is expected to be diminished on the whole market spectrum.

Last week’s data demonstrated that the producer price index (PPI) in January increased more than expected. Inflation is obviously sustainable, which makes it more probable that the US Federal Reserve will postpone softening the rates.

The index in January rose by 0.3% m/m instead of the 0.1% expected and after declining by 0.1% earlier. In annual calculation, the PPI saw a 0.9% increase, while a decline by 0.6% had been forecast.

The consumer sentiment index by the University of Michigan saw an increase but did not live up to the expectations: the index rose to 79.6 points against 79.0 points from an earlier report. However, the expectation index inside the main indicator improved to 78.4 points from 77.1 points previously.

There are no important reports on the macroeconomic calendar today, and the market will be all by itself.

Source: Roboforex

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