Euro Area inflation hits new high
The inflation in the euro area has significantly exceeded forecasts and reached a new high of 5.1 % compared to the same month last year. The release, one day before the ECB meeting, is likely to heighten investor excitement.
US gross domestic product data released today significantly outperformed and surpassed the best marks from last year. New orders for durable goods and initial jobless claims, meanwhile, hit forecasts almost on the nose.
Read more: US GDP for the 4th quarter significantly exceeds forecasts
On the day after the first Fed meeting in the new year, the markets are at least somewhat more positive than before the meeting. While global indices feel a slight sigh of relief, the US dollar receives a significant boost.
Read more: The day after the Fed: DAX is slightly up, USD with a boost
After yesterday's announcement by the US government to sanction the purchase of Iranian oil from 1 May, the oil price reached its highest level since November 2018. After the imminent sanctions became known, the protests of the affected countries quickly took place.
Read more: Oil price rises due to US announcement of blockade of Iranian Oil Exports
ECB President Mario Draghi made unexpected hawkish statements in his speech in Brussels today. In the forex market, his statements were positively assessed for the euro, which then initially broke through the USD 1.18 mark.
Read more: Mario Draghi at hearing unusually hawkish - Euro rises above 1.18
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