29 February 2024, EUR/USD
Events to pay attention to today:
09:00 EET. EUR - Retail Sales m/m
15:00 EET. EUR - CPI m/m
15:30 EET. USD - Initial Jobless Claims and Core PCE Price Index
EURUSD:
The EUR/USD has fallen for the third consecutive session as traders remain cautious ahead of the release of key US personal consumption expenditure and price index data. This data could potentially influence the Federal Reserve's monetary policy stance. During Asian trading on Thursday, the pair dropped to the 1.0830 level.
On Thursday, investors will have to digest a lot of data, including retail sales in Germany and the Consumer Price Index (CPI), which will be closely followed by US Personal Consumption Expenditure (PCE) inflation. On Friday, the week will close with the pan-European Harmonised Index of Consumer Prices (HICP) as well as the US Manufacturing Purchasing Managers' Index (PMI) for February.
Trading recommendation: If the price consolidates above 1.0860, we start buying.
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