The EUR/USD currency pair is trading around $1.2325, almost unchanged at the moment. Data on the decline in the euro from different regions of Germany are approaching milder inflation year on year.
Currency, ranges of price fluctuations are limited, as markets are waiting for important data from US Central Bank Chairman Jerome Powell.
The pair EUR/USD is growing slowly but daily. It briefly broke the figure of 1.2300 and was trading at 1.2354 this week, but so far cannot establish a clear direction.
The head of the US Central Bank Jerome Powell will turn to the parliamentary special committee on inflation and monetary policy. Expectations before the event are high, as there will be the first steps on this issue.
In general, Powell is expected to follow Yellen's path, but there is a good chance that he will prefer to calm the stock market and, therefore, try to meet the expectations of more than three rate hikes this year, which will not benefit from a stronger dollar.
At the same time, the EU has published its numbers for January and is going to publish sentiment indicators for February inflation will be ahead of Powell’s statement, while durable goods orders in the US will be canceled in January.
Also, European indices are mixed with their initial levels, which change little daily. Note that the yield on US Treasury bonds increases their recovery, but remains below the level of Friday closing.