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Euro-zone inflation confirmed at 1.1%

No surprises from the final euro-zone inflation report for December: an annual rise of 1.1% in prices and 0.9% in core inflation.  Nothing new for the ECB to chew on.

EUR/USD  continues trading just under 1.07, off the highs but not too far off.

Eurostat was expected to confirm the initial  inflation numbers for December. These showed headline CPI rising to an annual pace of 1.1% and also core CPI finally budging from 0.8% and reaching 0.9%. The data feeds into the  rate decision of the European Central Bank tomorrow.

EUR/USD traded slightly off the highs and just under 1.07 ahead of the publication. The pair rallied on the greenback’s weakness. The disappointment from Donald Trump weighs on the USD.

The  ECB is expected to leave all policy measures unchanged after making significant  announcements back in December. Draghi and his colleagues extended QE through 2017 but the pace of bond buys will be reduced from April onwards.

Here is how recent moves look on the  euro/dollar 30-minute chart:

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.