Jan. 30: MARKET OVERVIEW
EUR/USD is trading in the 1.1325 area. The euro area will release inflation data at 10:00 GMT. The data could come low as German consumer prices fell in January for the first time since 2009. The next key data for USD is an advance reading on US Q4 GDP at 13:30 GMT, which economists think will show a solid growth of 3.0%.
USD/JPY is below 118.00, almost in the middle of the recent sideways range. Japan released mixed economic data. Industrial production increased more than expected in December, but inflation slowed slightly more than expected: without the impact of the sales tax hike the price growth is the lowest since June 2013.
Commodity currencies – AUD, NZD and CAD – tried to correct a bit up after heavy selling in the previous sessions. EUR and JPY are rather stable. CHF paused after falling versus both USD and EUR on Thursday: the market is speculating about the intervention by the Swiss National Bank.