- 17/11/2022
- 12:27
The US Dollar is trying to recover from a 4-week losing streak fueled by a slowdown in US inflation.
With the lack of important economic releases for the rest of the week, the greenback is set for a bounce on the back of profit taking.
In the European trading session, all eyes will be turned on the Eurozone CPI release which is expected to rise to 1,5% from 1.2% during the previous month, while the yearly rate is likely to remain as it is at 10.7%.
Later during the day, US traders are waiting for the Building permits and Housing starts.
Building permits are set to decline to 1,512 million permits only, down from 1,564 million earlier, while October Housing starts should see a drop from 1,439 million to 1,410 million.
Finally, initial jobless claims are likely to remain unchanged at 225K.
Now let us have a look at the technical outlook.