In the opinion of the Commerzbank economists, the US inflation rate, due out today, will not cause the Fed to change course. Therefore, the EUR/USD pair will remain within its current range of 1.00-1.04..
The Fed is likely to raise its key rate to 4% by the end of the year
“Although today’s data could spark market speculation that inflation may have peakedI don’t think this is enough to change rate expectations massively.”
“The Fed is likely to raise its key rate to 4% by the end of the year, according to our experts. The market is a bit more cautious about the high. As the consensus also expects a slightly weaker CPI result for today (8.7%), this is unlikely to change and consequently EUR/USD is likely to remain in its range.”
Source: Fx Street
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