We saw good weakness in the EUR overnight and traders will be keen to look out for German (regional) CPI tonight; however the more important metric will be M3...
Pepperstone
We saw good weakness in the EUR overnight and traders will be keen to look out for German (regional) CPI tonight; however the more important metric will be M3 money supply. Along with inflation, this is the main data point the ECB look at and while the market expects a slight uptick to 1.1% (from 1%) a weaker read should push EUR/USD lower. I suggested shorts ((VIEW LINK) on February 17 and a closing break of 1.3660 would be a further negative development.
Highly accomplished financial markets professional, with experience at a number of top-tier global institutions on both the buy and sell-side. A natural communicator with a strong ability to analyse macro-economic trends, capital flows and market...
Expertise
Highly accomplished financial markets professional, with experience at a number of top-tier global institutions on both the buy and sell-side. A natural communicator with a strong ability to analyse macro-economic trends, capital flows and market...