Euro area’s inflation figures are set to be released this week. The headline consumer price inflation is expected to have remained the same at 1.4 percent year-on-year in December, noted DBS Bank in a research report. In spite of the below-target inflation, ECB’s December meeting minutes were seen as being hawkish.
Monthly quantitative easing purchases have been halved to EUR 30 billion from January onwards and will continue until September. Exceptions are building that the European Central Bank might end its QE purchases earlier than expected, but a shift to rate hikes is unlikely in 2018, stated DBS Bank.
At 21:00 GMT the FxWirePro's Hourly Strength Index of Euro was bullish 94.9564, while the FxWirePro's Hourly Strength Index of US Dollar was highly bearish at -121.356. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
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