EURUSD dropped again. Overview for 21.01.2022

EURUSD got under local pressure; investors need “safe haven” assets.  

The major currency pair remains under pressure on Friday. The current quote for the instrument is 1.1329.

The statistics from the US are rather controversial and raise a lot of questions but market players seem to have stopped paying attention to it. The “greenback” is now interesting but as a “safe haven” asset.  

Yesterday, the United States Department of the Treasury said that inflation was rising much faster than was predicted by most economists. The Department is responsible for inflation boost together with the Fed, and the Department has no doubts that the regulator could be realistic about the country’s economic state and get inflation under control. If the pandemic doesn’t intensify, the CPI should drop until the end of 2022.  

The weekly Unemployment Claims showed 286K this week after being 231K the week before and against the expected reading of 227K.  it’s not critical, although it’s the first time in several weeks the indicator increased.

The Existing Home Sales in December was 6.18M after being 6.48M in November and against the expected reading of 6.42M. However, this decline may be seasonal.