Today’s German CPI figures are going to have some impact on the market even though investors are firmly focused on Ukraine. ING economists expect the EUR/USD pair remains above 1.12 amid high inflation data from Germany.
German inflation in the spotlight
“We hope to see an increase in German headline inflation for February to 5.1%in line with expectations, which can offer some support to the euroas markets may at least consolidate their expectations for an ECB hike in September after having repriced the timing for monetary policy tightening in recent weeks.”
“We hope that evidence of accelerating inflation helps EUR/USD hold 1.1200 level for now, although sanctions/retaliation and rising commodity prices still suggest downside risk for the pair.”
Source: Fx Street
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