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Krone Plummets Following CPI Announcement

Krone Plummets Following CPI Announcement

Michael Romero, Contributor

Talking Points:

• DKK Falls After CPI Announcement

• CZK Retail Sales Fall Forcing Eastern European Currencies to Depreciate

The Krone plummeted following the recent CPI announcement. Danish CPI year-on-year (YoY) came in above leading economists’ expectations of .20 percent to .30 percent however the figure was still below November’s reading of .50 percent. CPI month-on-month (MoM) stayed at -.20 percent, higher than analysts’ expectations of -.30 percent. While higher inflation tends to lead to depreciation in said currency, the drop can largely be attributed to the recent retail sales data that came out of the Czech Republic and the easy money policies the Czech central bank is expected to take on their February 05th meeting.

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