Inflation numbers in the US are marginally lower than expectations: core inflation slid to 1.6% in December. On the other hand, headline inflation fell only to 0.8%, slightly better than expected. Month over month, core inflation remained flat and headline fell 0.4%.
The dollar seems stable in the immediate aftermath. The focus of the markets is directed to Zurich.
USD/JPY is ticking a bit up, to 1.166. The yen has been sticking to its “Safe haven” status of late.
The United States was expected to report a monthly drop of 0.3% in the headline Consumer Price Index for the month of December. Oil prices were expected to pressure prices down. Year over year, predictions stand at a low rate of 0.7%. Core CPI, which is more important for the Fed, carried expectations for +0.1%. Year over year, core inflation is expected to remain at +1.7%.
At 14:15, we have industrial output and at 14:55 we get the consumer confidence number from the University of Michigan.
See how to trade the consumer confidence number with EUR/USD.
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