Daily outlook by FxArsenal.com

British Consumer Price Index emerged to be almost alike with expectations and enduring  UK inflation tendency. As some wise professor said – “robust economy has to slide on something” – current 3.3 percent inflation ought to be embraced as the good economic indication. Despite being above long-term target, CPI maintains in the tight and steady range which generally states economic stability. It is important to point out that in present economic climate any upward CPI surge should be considered as economic threat.

German ZEW Economic Sentiment marked second in row positive value today. 4.3 in comparison with previous 1.8 and forecasted 3.8.

Key economic invent in Euro Zone will be today vote in the Italian Parliament against Berlusconi’s government. Crumble of government of one of the most ailing Euroland’s economies would be indubitably digested by markets and should trigger sharp downward movement on EURUSD.

Having Retail Sales, PPI, FOMC meeting and Fed Funds Rate releases in store, there is also a busy time to come for U.S. economy indications. Making upcoming U.S. releases even more significant was yesterday’s Moody’s information stating prospective lowering of U.S. rating which triggered sharp movement on EURUSD chart.

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