The Federal open market committee (FOMC) will make its monetary policy statement and announce the interest rate on March 20, 20:00 MT time.
Euro zone inflation keeps slowly going up
In November, euro zone inflation managed to edge up. However, this crucial economic parameter still stood below the European Central Bank’s objective. That’s what market participants learned from a revision unveiled by Eurostat on Monday.
As the European Union's statistics office revealed, the reading pointed out that in November the consumer price index tacked on at an annual rate of 1.5%, which is 1.4% more than in October. Meanwhile, in November, the index tacked on by 0.1% month-over-month, staying intact from the preliminary outcome.
The revisions turned to be in line with hopes. The EU’s major financial institution targets inflation of close to, although below 2%.
Closely watched by the ECB, core inflation, excluding food and prices, headed north by an annualized 0.9%, which is the same outcome as in the prior month.
After the report, the currency pair EUR/USD hit 1.1788 versus the previous reading of 1.1794.
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