The Euro keeps its positive momentum. Overview for 10.02.2021
EURUSD remains “in the black” and continues recovering.
The major currency pair is recovering at a very good pace and wants to keep the positive momentum. The current quote for the instrument is 1.2127.
There weren’t a lot of statistics from the Euro Area and the USA earlier this week. The report worth mentioning was the NFIB Small Business Index, which showed 95.0 points in January after being 95.9 points in December and against the expected reading of 96.6 points.
Today’s macroeconomic calendar is quite interesting. For example, the USA is scheduled to report on inflation in January, which is expected to attract a lot of attention because it may either help the White House to boost the approval of its new stimulus plan or stall it. In December, the CPI showed 0.4% m/m and is expected to be 0.3% m/m in January. If the actual reading matches the expected one, it may prevent the “greenback” from violent fluctuations.
The Core CPI may show 0.2% m/m in January after being 0.1% m/m the month before.
Later in the evening, the US Federal Reserve Chairman Jerome Powell is set to speak. He is very unlikely to talk about any controversial points in the regulator’s monetary policy, but his comments are still worth paying attention to. Among other things, Powell may share his opinion about the statistics on inflation.