In the foreign exchange market, the EUR/USD pair traded sideways for much of the session on Monday at 1.0940 levels, in the absence of top-level macroeconomic data. During the afternoon, we saw a slight recovery of the Dollar favored by the rebound in yields throughout the curve that led the pair to momentarily test the level of 1.0917, and then correct to 1.0940 where the day began today.
The market is cautiously awaiting today's session with inflation data on both sides of the pond. On the European side, the final German inflation data for the month of February have come out in line with expectations, which has not moved the market. On the American side, annual inflation is expected to be 3.1%, matching that of the previous month, while the underlying reading is expected to have decreased to 3,7% from 3,9% in January.
From the rest of the panel, the Pound gave some ground after Friday's lows and closed at 0.8530 levels. The Japanese Yen crossed 160.22 during the session on Monday but weakened today at 161, while the Swiss Franc in its cross against the Euro failed to recover the level of 0.96 at the beginning of the session and was trading slightly below 0.9585.
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Economic News, Dollar, Euro
