EUR/USD Prepares to Sink to 1.13 After Strong Us Consumer Price Index Recount
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EUR/USD Prepares to Sink to 1.13 After Strong Us Consumer Price Index Recount

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Azeez Mustapha

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Consumer value index went beyond anticipations last month, creating a strong 0.6 percent month over month (MoM). A strong consumer price index will maintain the present 50 base point hike for March. This might put the USD on its front-foot for the meantime, with EUR/USD probably re-visiting the 1.1300s.The Latest Us Inflation Mounts Pressure on the Federal Reserve System
The recount of another strong consumer price index, with consumer price going beyond anticipations. Total against Core value increased by 0.6 percent month over month (MoM) each, beyond the 0.4 over 0.5 percent general agreement, respectively. Year over year (YoY) speed gets to new many–decade highs at 7.5 percent upon 6.0 percent for the headlines and core consumer price index inflation, respectively.

The January consumer price index which was stronger than the anticipated raised probability of a more strict monetary policy reaction by the Federal Reserve system. We still anticipate that the Federal open market committee will increase the rates by 25 base points during its meeting next month, but a piece of reliable news this month will probably promote the federal reserve system to increase the speed of hikes in this year and quicken both the timing and speed of balance sheet runoff.

The coming European central bank meeting will hold some days before the federal reserve system, this makes us prejudiced for a re-visit of 1.13 in the EUR/USD, before thinking of a reasonable upward movement. The USD/JPY seems to move higher around 118.00s, most especially since the bank of Japan is far from any kind of normalization in 2021.

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