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USD Higher Ahead of CPI
The US dollar has started the day in the green with the index rallying up to 97.16 as of writing. Looking ahead today, US CPI data is the main data print today. The headline reading is expected to have grown at just 0.2% last month down from the prior month’s 0.3% reading.
A print in this region might not do much to detract from USD strength at this point though any downside miss could see USD selling kick in. On the other hand, a strong reading could see the 97.26 resistance level give way.
Euro Under Pressure
EURUSD has been lower today, weighed on by strength in USD. Despite the pullback today, EURUSD is still up off the January lows, trading 1.1130 last. Looking over the rest of the week, the December ECB minutes on Thursday will be the main focus point. If the minutes show there is still strong support or further easing, this could push EUR lower in the near term.
GBP Lower Following GDP Miss
GBPUSD is lower again today following yesterday’s release of lowe...
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