The $EURUSD continued its consolidation mode as investors waited for the upcoming US and German consumer inflation data.
Enter your emailBecause of the bearish flag pattern, there is a possibility that the pair will continue the bearish trend that paused last week. Timeline: 1-2 days.continued its consolidation mode as investors waited for the upcoming US and German consumer inflation data.
Therefore, investors will focus on the latest inflation numbers that will be published today. Economists expect the data to show that the headline consumer price index rose from 7.3% in March to 7.4% in April. On a month-on-month basis, they expect that inflation dropped from 2.5% to 0.8%. If analysts are accurate, these numbers will send a signal that the European and American inflation is reaching its peak. In fact, a quick look at the commodities market shows that most of them have started to stabilize in the past few weeks. Copper has dropped to the lowest level in eight months while crude oil and natural gas prices have stabilized recently.
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