EURUSD: trading dynamics slowed down in anticipation of inflation data
The EUR/USD pair is moving in a corrective trend around 1.0212.
Since the beginning of the week, the European currency has been trading with low volatility, but the situation may change today after the publication of data on consumer prices in two large EU economies – Germany and Italy. According to analysts, German inflation may increase by 0.9% MoM and slow down to 7.5% YoY from 7.6% earlier. In the Italian economy, a similar situation is observed: the rate is expected at 0.4% MoM and 7.9% YoY instead of 8.0% in June. These forecasts are in line with the opinion of experts, as the European Central Bank (ECB) adjusted the parameters of monetary policy, initiating an increase in interest rates, which could lead to short-term pressure on inflation.
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