The EUR/USD pair remains safely above the 1.0600 round-figure threshold in the early North American session, with minimal movement in response to conflicting US economic data.
The US Bureau of Economic Analysis stated that the Personal Consumption Expenditure (PCE) Price Index increased by 0.1% in November, falling short of forecasts for a 0.3% increase.
The modest disappointment was mitigated, however, by an upward revision of the previous month’s result to 0.4% and a higher-than-expected annual rate of 5.5%.
In addition, the Core PCE Price Index (the Fed’s favored inflation gauge) increased by 0.2% month on month in November before slowing to a 4.7% year on year pace from 5.0% previously.
Separately, US Durable Goods Orders fell far short of consensus expectations, doing nothing to impress. Spot prices have been swinging in a familiar trading zone for the previous week or so, even from a technical standpoint.
This suggests that traders are still undecided, thus it is wise to wait for a substantial move in either direction to confirm the EUR/USD pair’s near-term trajectory.
