EUR/USD Weekly Forecast: Bears encouraged by price pressure heating up

The United States Consumer Price Index rose by more than anticipated in January. The European Central Bank keeps cooling down rate cut expectations. EUR/USD keeps posting lower lows, anticipating more slides in the coming days. The US Dollar soared on Tuesday as the United States reported an uptick in inflation at the beginning of the year. Hot CPI reaffirms Federal Reserve’s caution The US Bureau of Labor Statistics reported that the Consumer Price Index increased 0.3% MoM and 3.

Finally, European Central Bank President Christine Lagarde testified before the Committee on Economic and Monetary Affairs of the European Parliament. Lagarde repeated that the central bank still needs more information before it can affirm inflation is heading back toward the desired 2% target. The latest data confirms the ongoing disinflation process and is expected to bring us gradually further down over 2024, Lagarde said.

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

EUR/USD Forecast: Bears determined to push it lowerThe EUR/USD pair struggles around the 1.0700 mark on Wednesday as the US Dollar maintains the firm footing triggered by higher-than-anticipated United States (US) inflation.
Source: FXStreetNews - 🏆 14. / 72 Read more »

EUR/USD Weekly Forecast: Market players not getting what they wantThe EUR/USD pair remained under selling pressure throughout the week, extending its slide to a fresh 2024 low of 1.0722 on Monday.
Source: FXStreetNews - 🏆 14. / 72 Read more »

US Dollar Forecast: EUR/USD, GBP/USD and USD/JPY Price Action SetupsNext week US CPI headlines the schedule of high importance data. This forecast considers how major currency pairs shape up ahead of the US CPI release
Source: DailyFX - 🏆 305. / 63 Read more »

EUR/USD Forecast: Euro remains stuck between key technical levelsFollowing a two-day rebound, EUR/USD failed to preserve its bullish momentum and closed virtually unchanged on Thursday.
Source: FXStreetNews - 🏆 14. / 72 Read more »

EUR/USD Forecast: Cautious buying loses momentumFinancial markets extend the cautious trading on Wednesday amid mixed comments from Federal Reserve (Fed) officials and Chinese woes, although the US Dollar remains under modest selling pressure.
Source: FXStreetNews - 🏆 14. / 72 Read more »

EUR/USD Forecast: Break through 1.0700 on the tableThe EUR/USD pair bottomed for January at 1.0723 on Monday and trades nearby as the new day develops.
Source: FXStreetNews - 🏆 14. / 72 Read more »