On Monday morning, the major currency pair is rising a bit due to a neutral fundamental background.
EURUSD is slowly getting stronger on Monday. The current quote for the instrument is 1.1163.
Last Friday, the Euro was able to grow after the USA published several reports. The first one showed that the country’s GDP expanded by 3.2% q/q against the expected reading of +2.0% q/q. The report is preliminary and although the reading turned out to be pretty strong, it didn’t the USD.
Market players focused their attention on the inflation rate, because it’s the thing the US Federal Reserve is closely watching and my change its monetary policy depending on the indicator’s value. The Advance GDP Price Index was only 0.9% q/q in the first quarter after being 1.7% q/q the quarter before and against the expected reading of 1/3% q/q. The indicator shows inflation/deflation risks, so it can be seen that right now price risks are increasing, which is bad for the USD and the US economy.
Today’s economic calendar is quite calm. In the evening, the USA are scheduled to report on the Personal Spending and Income. Both readings are expected to improve and that’s good for the American currency.