The annualized headline CPI eased from 1.8% to 1.7%, taking analysts by surprise as they expected an unchanged figure. Excluding food and energy, data rose 0.1% on the month, lower than the 0.2% consensus.
Industrial Production rose 0.3% in December, in line with expectations, capacity utilization was published as the upside surprise. Capacity utilization was expected to move a little higher, from 78.4% to 78.5% in December, but actual data has beaten market consensus by rising to 78.8%.While total net TIC flows rose from $-56.7B (revised from $-58.9B) to $27.8B in November, net long-term TIC flows jumped from $1.3B (revised from $-1.0B) to $52.3B, beating market consensus of $14.8B.
As the 1.3257 daily low is confirming support, for now, the EUR/USD is currently rebounding. The market has reached 1.3293 session high so far, but EUR/USD remains in "red" on the daily candlestick.
According to Roboforex analysts, the correction lower might have ended after this drop to 1.3257 low: "Today, in my opinion, the price may return to the level of 1.3330 and then form a new descending structure to reach the target at 1.3262", wrote analyst Igor Sayadov, considering the correction as completed there. "After that, I think, the pair may continue growing towards the level of 1.3500", he added.