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Forex Today: Markets await preliminary data on German inflation

Forex Today: Markets await preliminary data on German inflation

Ahead of three major central bank meetings later this week, the market's focus will be on German inflation data, which will be released today.

➡️ It was a quiet start to the week after a lean Monday with no real market data to speak of. The markets moved little. Today the focus will be on German CPI (inflation) data first, which is expected to show a higher monthly increase of 0.3%. If the rate is significantly higher, it could push the euro higher. After that, the focus will shift to the US, which is releasing data on JOLTS job postings and CB consumer confidence.

➡️ Stock markets were mostly trading lower today, with losses seen in major Asian indices. Is the Nikkei 225 index That the HSI they are decreasing during the day.

➡️ Some of the major tech companies releasing this week could be important to the trend of NASDAQ 100 Index , which has recently underperformed broader market indexes.

➡️ In the Forex market, since today's Tokyo opening, the New Zealand dollar has been the strongest major currency, while the Japanese yen has been the weakest. I expected in my last one weekly Forex forecast That the NZD/JPY currency pair , and also some other yen pairs, would increase in value over the course of this week, so far I have been right.

➡️ Bitcoin has suffered a sharp decline in the last few hours, after reaching the highest of the last 6 weeks, to then fall back to the round figure of 70,000 dollars.

 

Credit by DailyForex.com

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