The U.S. dollar was seen trading flat on Thursday. This came despite data showing that consumer prices in the U.S. surged to a six year high. Headline inflation rate was seen rising 2.9% on an annual basis. Core inflation that excludes the volatile food and energy prices were seen rising at a slower pace of 2.3%.
The ECB released its monetary policy meeting minutes. The minutes showed that officials left the question of QE extension as still an option. Officials were also concerned about the risks in the financial markets and the rising threats from protectionist policies.
The economic calendar for the day is slow as the markets head into the week. Data today includes the release of the Swiss PPI figures. The BoE’s MPC member, Cunliffe is expected to speak over the day.
The NY trading session will see the release of the U.S. import prices. Economists polled forecast that import prices increased 0.1% on the month. Later in the afternoon, the University of Michigan will be releasing the consumer sentiment and the inflation expectations report.
