The EUR/USD price has formed a rising wedge pattern ahead of the upcoming American economic data.
It was trading at 1.0912, which was a few pips below this week’s high of 1.0926. This price is more than 12% above the lowest point in 2022.The EUR/USD price continued its bullish trend ahead of the important economic data from the US.
The median estimate that the economy slowed from 3.2% in the third quarter to 2.6% in Q4 as inflation held consumer spending. Corporate spending has also been slowing as companies continued worrying about the rising risks of a recession. Economists expect that the GDP price index dropped from 4.4% to 3.3%.
The US will also release the latest durable goods order numbers, which are important measures of the state of the economy. Economists believe that core durable goods orders dropped by 0.2% in December after rising by 0.1% in November. The other important numbers will be the latest initial jobless claims data.
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