Economic data takes the spotlight once again on Tuesday, with US inflation figures likely to generate most of the chatter. What else is going to affect the movements of the EUR pair? Find out in this 13 March EURUSD Fundamental Outlook.
13 March, OctaFX – Like on Monday, the European release schedule is relatively light on Tuesday. The French government will report on nonfarm payrolls at 06:00 GMT. The report is expected to show employment growth of 0.3% in the fourth quarter.
Two hours later, the Spanish government will report on consumer inflation for the month of February. This includes the monthly consumer price index (CPI) as well as the harmonized index of consumer prices (HICP). The HICP reading is expected to come in at 1.2% annually.
13 March EURUSD Fundamental Outlook
Europe’s common currency traded sideways on Monday, as investors continued to assess dovish comments from ECB President Mario Draghi. The pair is currently trading around 1.2340. Immediate resistance is located at 1.2380. On the flipside, support is located near 1.2270, the 50-day SMA.
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