January Eurozone consumer price index was + 5.1% year-on-year, well above the forecast + 4.4%. It was + 5.0% in December. The reaction to buying the euro is spreading in response to the unexpected acceleration of growth. Eurodollar jumped from around 1.1280 to the 1.1305 level. The Euroyen had fallen to around 129.05, but has been bought again to around 129.30. With the ECB board tomorrow on the horizon, it seems to be affecting market sentiment.
In addition to the repulsion that has been sold so far, the results of economic indicators are all good, and the situation is that large repurchases are coming in. However, ahead of tomorrow’s ECB, it is difficult to take a big position,