EURUSD hopes for a local improvement, but there might be surprises.
The major currency pair remains positive. The current quote for the instrument is 1.0222.
The currency market has been rather quiet for a couple of days. It’s some kind of summer vacation – no news, no statistics, it’s time to relax a bit.
However, today investors will switch their attention to the CPI data from the US. Average market expectations are rather conservative: the indicator might add 0.2% m/m after gaining 1.3% m/m in June.
Market players have already priced in these expectations, but there always might be nuances and surprises.
By the way, at Morgan Stanley they believe that markets underestimate the stability of inflation and the willingness of the US fed to fight it. If the CPI turns out to be higher than expected, the regulator will continue tightening its monetary policy, hence causing the “greenback” to rally.
