Important events today:

13:30 UTC – USA: Inflation rate for December.

The ECB has released fresh statistics on the change of assets on its own balance sheet. Over the past 7 days, the figure has risen by € 6.9 billion, against an increase of € 53 billion last week. The slowdown in asset growth is good for the euro. The currency has good chances to test the level of 1.1386 in the morning.

Probably, buyers will not have enough strength to stay above this level, as the US inflation for December is scheduled to be published today, which is expected to rise to 7%.

The yield on two-year US Treasuries is now 0.9%, implying a threefold increase in the Fed’s rate this year. Since the ECB will not change the rate, the Fed’s actions will provide good support to the dollar this year.

Recommendations: Sales 1.1386 / 1.1410 with TP 1.1320.