EURUSD Fundamental Drivers Analysis


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.

8 January EURUSD Fundamental Drivers Analysis

Disclaimer

This article about “8 January EURUSD Fundamental Drivers Analysis was provided by OctaFX. It should substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.

Also, speculative trading is a challenging prospect, even to those with market experience and an understanding of the risks involved.

    Share Your Opinion, Write a Comment