Get updated on the 8 January EURUSD Fundamental Drivers Analysis as attention shifts to the Chinese and US inflation figures.
8 January, OctaFX –A batch of European sentiment indicators will headline an otherwise quiet day of trade on Monday. The first full week of the year is expected to see a deluge of economic data, culminating in Chinese and US inflation figures.
Action begins at 07:00 GMT with a report on German factory orders. November bookings are expected to rise 0.8% month-on-month, following a gain of 0.5% the previous month.
Switzerland’s Federal Statistical Office will release official inflation figures at 08;15 GMT. The Consumer Price Index (CPI) is expected to come in at 0.8% year-over-year in December, unchanged from the previous month.
8 January EURUSD Fundamental Drivers Analysis
Europe’s common currency traded comfortably above 1.2000 US on Monday, as the EUR/USD consolidated near four-month highs.
The regional currency is benefitting from a stronger economic recovery and the gradual removal of policy accommodation by the European Central Bank (ECB). The EUR/USD was last seen trading at 1.2033 for a gain of 0.1%. Despite the upsurge, the pair faces a major resistance test around 1.2100.
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