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Eurostat revised January euro-area core inflation up to a record 5.3%, with headline inflation at 8.6%. The data is likely to cement an ECB plan for another half-point rate hike in March.
Persistent inflation reinforces tighter euro-area policy, which supports the euro against the dollar and can soften dollar-denominated commodity demand.
bloomberg.comAndrew LangleyMar 1, 2023After 20 past bullish report events, Euro (USD per EUR) moved a median +0.7% over 5 sessions (70% higher; middle half -0.0% to +1.6%), and +1.1% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
