Forex Today: US Dollar looks vulnerable as focus shifts to December CPI data – by eren_fxstreet Currencies Majors Macroeconomics Commodities Inflation
Financial markets stay relatively quiet early Thursday as investors gear up for December inflation data from the US.continues to move up and down in a tight range slightly above 103.00, the benchmark 10-year US Treasury bond yield holds above 3.5% following Wednesday's decline and US stock index futures trade flat. The US economic docket will also feature the weekly Initial Jobless Claims and there won't be any high-impact data releases from the Eurozone.
Hawkish comments from European Central Bank officials helped the Euro gather strength on Wednesday andpair touched its highest level in nearly eight months at 1.0777 before retreating toward 1.0750 early Thursday. ECB Governing Council member Olli Rehn said that rates will have to rise significantly in the next couple of meetings to dampen inflation.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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