The EUR/USD pair remains steady and maintains its strength.
The main currency pair continues to consolidate, with the current EUR/USD exchange rate at 1.0847.
On Friday, the US core PCE price index for December dropped to 2.9% year-on-year, down from 3.2% in November, contrary to the expected decline to 3.0%.
This indicates a weakening of the inflation component, which is important to the Fed.
The upcoming US Federal Reserve meeting on Wednesday will determine whether interest rates will be reduced in March or May, adding to market suspense.
Market activity is expected to remain subdued until the conclusion of the meeting.
The post EUR in Consolidation: Overview for January 29, 2024 appeared first at R Blog – RoboForex.