EUR/USD in a Consolidation Phase: Overview for December 19, 2023 – R Blog

The EUR/USD pair persists in its consolidation mode.

As of Tuesday, the primary currency pair remains in a consolidation phase, with the current EUR/USD exchange rate at 1.0921.

The foreign exchange market is still digesting the information received last week, ranging from decisions by key regulators to a slew of crucial statistics. The primary global anticipation revolves around monetary easing in 2024.

While Monday saw no significant statistical releases, today marks the commencement of data publication.

One noteworthy report is the final Consumer Price Index (CPI) for November in the eurozone. Expectations are for a decrease to 2.4% year-on-year, down from the previous 2.9%. The market's favorability toward this report could bode well for the EUR.

Later today, the United States will release housing market statistics, particularly data on building permits issued in November. Projections suggest a decrease to 1.470 million from the previous month's 1.498 million.

Open Trading Account

Source link

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top