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FX Headlines: Will Positive Inflation Readings Lift the Euro on Monday?

FX Headlines: Will Positive Inflation Readings Lift the Euro on Monday?

Christopher Vecchio, CFA, Senior Strategist

Talking Points

- Light calendar to start week; markets remain fixated on the Fed’s September taper.

- Only Euro-Zone data this week is due on Monday.

- Fundamental trends allowed to develop – here’s what we’re watching this week.

To keep up with the European data and news as the week goes forward, be sure to sign up for my distribution list.

EURO-ZONE ECONOMIC CALENDAR

FX_Headlines_Will_Positive_Inflation_Readings_Lift_the_Euro_on_Monday_body_Picture_1.png, FX Headlines: Will Positive Inflation Readings Lift the Euro on Monday?

There’s only one data set due out this morning during the European session but it happens to be a significant one. August Euro-Zone inflation data as measured by the Consumer Price Index is forecasted to show that price pressures turned positive in the mid-3Q’13, potentially a sign of improving underlying growth fundamentals.

Accordingly, with the yearly figures – both core and headline – expected to remain rather soft (well-below the European Central Bank’s +2% yearly target), any Euro strength will be derived from a meet or beat on the monthly forecast.

While the ECB’s forward guidance strategy makes it unlikely higher inflation data will provoke higher interest rates, inflation is often a sign of accelerating growth prospects and should be viewed as positive for the Euro.

Read more: It’s Due-or-Die Time for Euro/US Dollar Ahead of FOMC Decision

UK ECONOMIC CALENDAR

There is no data on the British Pound economic calendar for Monday, September 16.

See the British Pound economic calendar for the week of September 15 to 20.

Read more: Pound Overbought on Upbeat BoE, MPC Minutes to Prompt Fresh Highs

SWISS ECONOMIC CALENDAR

There is no data on the Swiss Franc economic calendar for Monday, September 16.

See the Swiss Franc economic calendar for the week of September 15 to 20.

Read more: Gold Posts Largest Drop Since June Ahead of Fed – Bearish Below $1373

Want to automate your trading or trade baskets of currencies? Try Mirror Trader.

--- Written by Christopher Vecchio, Currency Analyst

To contact Christopher Vecchio, e-mail cvecchio@dailyfx.com

Follow him on Twitter at @CVecchioFX

To be added to Christopher’s e-mail distribution list, please fill out this form

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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