Home›Forex›Major Pairs›Traders look ahead to US CPI as European data stays li…

Traders look ahead to US CPI as European data stays light

With limited catalysts in Europe and the US, Forexlive expects rangebound price action and potential pullbacks around the CPI release, plus focus on US-Iran developments.

Reported · Written up by our desk · Major Pairs

Forexlive said the European session is light on economic catalysts, with the only notable item being Italy's trade balance, which the outlet expects will not materially change expectations for the ECB, leading to muted market reaction.

The same source said traders are likely to keep markets rangebound while waiting for the US CPI report, and could see hedging ahead of the release that triggers pullbacks across different markets.

In the American session, Forexlive pointed to low-tier releases including the weekly US ADP employment change and US existing home sales, adding that it does not expect the data to shift expectations for the Fed.

Forexlive also flagged that the day will likely be driven by waiting for US CPI and by further US-Iran developments.

More like this

Sources