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Jan 31 - 07:55 AM

EUR/USD - CPI Data Weighs EUR/USD Ahead Fed Decision

By Jeremy Boulton  —  Jan 31 - 05:35 AM
  • German State CPIs drop substantially in January

  • Hesse drops to 2.2% yy close ECB's 2% target, Bavaria 2.9% yy

  • Expected drop in ECB depo rate could see euro become funding currency

  • Depo eyed 2.5% by December - few rates lower globally nL1N3EL0SI

  • Jan 31 Fed meeting will give more insight on US rate/USD nL1N3EK0IN

  • EUR/USD sidelined ahead the event following drop from Dec high at 1.1139

  • Oversold conditions favour a bounce, possibly resumption Oct-Dec uptrend

Source:
Refinitiv IFR Research/Market Commentary

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