🌐 EUR/USD Projections (Long Positions)- Economic Data Impact

1 Feb

The upcoming economic data releases for the Eurozone carry significant weight in shaping the ongoing bullish trend of EUR/USD. The Core CPI Flash Estimate y/y, indicating the inflation rate, is expected to be at 3.2%, slightly below the previous figure of 3.4%. Similarly, the CPI Flash Estimate y/y is projected to be at 2.7%, showing a marginal decrease from the previous 2.9%. Italian Prelim CPI m/m, forecasted at 0.5%, surpasses the prior 0.2%, suggesting a potential boost in consumer prices. The Unemployment Rate in the Eurozone also plays a pivotal role, and any improvement or deterioration can influence the overall sentiment. Traders closely monitoring these indicators will be better positioned to gauge the strength of the Euro against the US Dollar, potentially impacting the ongoing bullish trend of EUR/USD. 📈💶 #Forex #EURUSD #EconomicIndicators #MarketProjections