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German and Eurozone CPI under focus – FXStreet

FXStreet (Barcelona) - According to FXStreet Editor and Analyst Omkar Godbole, Draghi’s willingness to expand the monetary stimulus on low inflation scenario puts heavy focus on next week’s Eurozone and German CPI.

Key Quotes

“A further decline in the price pressures shall re-inforce the expectations of more monetary stimulus from the ECB, leading to a further fall in the EUR/USD.”

“Moreover, it will take a far better-than-expected CPI print in Germany as well as the Eurozone to erase speculation of more stimulus measures.”

“View - The EUR is likely to be sold on rallies. Mr. Draghi’s dovish talk today along with multiple failure to rise above 1.26 levels on daily charts has effectively put a ceiling at 1.26 levels on the EUR/USD pair. On the downside, doors are open for 1.2350 and 1.2280 levels.”

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