Preliminary inflation data for March in Spain and Germany will be the subject of special attention. As for the EUR/USD, ING economists they expect the pair to be around 1.0840.
The first figures of the CPI, in the spotlight
“The German numbers will obviously be of more interest, with consensus expectations pointing to a slowdown from 8.7% to 7.3%. at the overall rate. The Spanish figures have recently caused some turmoil in the markets. Expectations are for a flat core rate at 7.6%, but a sharp slowdown in headline inflation from 6.0% to 3.7%.”
“With the European Central Bank explicitly reliant on data despite aggressive implicit bias, this week’s inflation numbers will be a major driver of market rate expectations.”
“The EUR/USD rally took a breather around 1.0840 and we could see it hovering around those levels today, but we still favor a break above 1.0900 and ultimately a test of 1.1000 in the near term.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
