Single Currency Remains Soft, ECB Protocol Expectations
The single remained soft. Yesterday, euro weakened as German PMI declined to 60.3 and Eurozone PMI fell to 58.5. Today, the Euro/Dollar pair lifted 0.03% to trade at 1.2287. German Ifo Business Climate declined to the 5-month minimum of 115.4.
European Central Bank is about to release its meeting minutes, and investors are hoping they will unveil Bank’s plan concerning the asset purchase program. We’re also going to get US jobless claims and leading index. Tomorrow, the US features Final Gross Domestic Product and the Eurozone presents Final Consumer Price Index.
Fed released its January meeting protocol, which indicated that members improved their outlook for growth, labor market and inflation, as expected. The possibility of a March rate hike has been reinforced as well. Overall, members assume there will be 3 rate lifts this year. And now, dollar is trading as the firmest of this week.