EUR in Consolidation: Overview for January 29, 2024

<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/EURUSD_10-360×360.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="EUR/USD analysis today" style="margin-bottom: 15px;" decoding="async" loading="lazy" /></div><p>The <a href="https://roboforex.com/beginners/info/charts/forex/eurusd/" data-internallinksmanager029f6b8e52c="35" title="EUR/USD">EUR/USD</a> pair remains steady and maintains its strength.</p>

<p>The main <a href="https://blog.roboforex.com/blog/2020/06/19/how-to-choose-a-currency-pair-for-trading-in-forex/" data-internallinksmanager029f6b8e52c="142" title="Currency Pair">currency pair</a> continues to consolidate, with the current EUR/USD exchange rate at 1.0847.</p>

<p>On Friday, the US core PCE price index for December dropped to 2.9% year-on-year, down from 3.2% in November, contrary to the expected decline to 3.0%.</p>

<p>This indicates a weakening of the <a href="https://blog.roboforex.com/blog/2022/06/30/what-is-inflation-reasons-and-consequences/" data-internallinksmanager029f6b8e52c="220" title="Inflation">inflation</a> component, which is important to the Fed.</p>

<p>The upcoming US Federal Reserve meeting on Wednesday will determine whether interest rates will be reduced in March or May, adding to market suspense.</p>

<p>Market activity is expected to remain subdued until the conclusion of the meeting.</p>

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<a href="https://my.roboforex.com/en/register/">Open Trading Account</a></p><p>The post <a href="https://blog.roboforex.com/blog/2024/01/29/eur-in-consolidation-overview-for-january-29-2024/">EUR in Consolidation: Overview for January 29, 2024</a> appeared first at <a href="https://blog.roboforex.com">R Blog – RoboForex</a>.</p>