Euro Remains Firm After Eurozone CPI Data

Forex News

The euro remains stable and is trading at 1.1170 level. Eurozone Final CPI fell to 1.4%, which is in line with the forecast. The US will release data on Building Permits, Housing Starts and UoM Consumer Sentiment today.

The US Federal Reserve increased rates by 25 basis points to the target range of 1.00% -1.25%. The Fed’s report noted that the economy is growing, and the labor market remains strong. The Fed predicts another rate hike this year. The US Central Bank predicts that a 2% inflation target will be achieved in the medium term.