EUR/USD is back on an upward trajectory following the release of US inflation data.

The primary currency pair is set for growth this Friday, with the current quote in EUR/USD at 1.0975.

The eagerly awaited inflation data has been unveiled. The official Consumer Price Index climbed to 3.4% year-on-year in December, up from 3.1% the previous month. In a month-to-month comparison, the figure surpassed expectations with a 0.3% increase. However, core inflation slightly decreased year-on-year, settling at 3.9%, maintaining the same 0.3% monthly growth rate.

In December, US food prices experienced a 0.2% increase, while energy prices witnessed a 0.1% decline.

The statistics presented a mixed picture, failing to provide clear signals, and the Federal Reserve refrained from making any comments. Consequently, the market played against the US dollar.

The weekly report on initial jobless claims in the US held steady at 202,000, defying forecasts that suggested an increase to 210,000.

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