Euro rises on strong eurozone data
January 19, 2021SharePrint
After a quiet start to the week, the euro has posted gains in the Tuesday session. Currently, EUR/USD is trading at 1.2126, up 0.43% on the day.
Eurozone inflation confidence jump
There was positive news out of the eurozone on Tuesday, and investors responded with a thumbs-up, sending the euro above the 1.21 level. German CPI rebounded nicely in December, with a solid gain of 0.5 per cent. Inflation has struggled in Germany, as prior to this reading, CPI had declined in four of the past five months. Will we see inflation levels head higher in 2021? Although Covid-19 continues has resulted in lockdowns across the bloc which continue to hobble economic activity, the roll-out of Covid vaccines is expected to turn the tide and result in a resurgence in the economy and send inflation higher.