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7 Jan 2014
EUR/USD steady after EZ inflation figures
FXstreet.com (Córdoba) - The EUR/USD remained pretty steady within its daily range after data showed Eurozone inflation rate fell back in December.
The Eurozone consumer price index rose by 0.8% over the 12 months to December, showing a decline in the annual rate of inflation from 0.9% in November. Meanwhile, producer price index fell by 1.2% in November from a -1.3% annual rate the previous month. The EUR/USD showed little reaction to data and continues to oscillate around 1.3620 where it is virtually unchanged on the day.
What's analysts' sentiment on EUR/USD?
The EUR/USD is correcting lower after a stunning rally that reached a 2-year high just below 1.3900 on Dec 27. Gonçalo Moreira, Independent analyst at FXstreet.com noted that the latest data for the Currencies Forecast Poll, released by FXstreet.com on Friday the 3rd, showed that the price change of more than 1% in the EUR/USD exchange rate didn't forced the average forecasts down with the same magnitude. "There seems to be a generalized disbelief in the current trend which doesn't match with consistently awful macro and sentiment data from most Europeans countries", said Moreira.
The Eurozone consumer price index rose by 0.8% over the 12 months to December, showing a decline in the annual rate of inflation from 0.9% in November. Meanwhile, producer price index fell by 1.2% in November from a -1.3% annual rate the previous month. The EUR/USD showed little reaction to data and continues to oscillate around 1.3620 where it is virtually unchanged on the day.
What's analysts' sentiment on EUR/USD?
The EUR/USD is correcting lower after a stunning rally that reached a 2-year high just below 1.3900 on Dec 27. Gonçalo Moreira, Independent analyst at FXstreet.com noted that the latest data for the Currencies Forecast Poll, released by FXstreet.com on Friday the 3rd, showed that the price change of more than 1% in the EUR/USD exchange rate didn't forced the average forecasts down with the same magnitude. "There seems to be a generalized disbelief in the current trend which doesn't match with consistently awful macro and sentiment data from most Europeans countries", said Moreira.