Economics
Euro Rallies on Upbeat Sentiment, Later Falls as Dollar Recovers
The euro today rallied higher against the US dollar buoyed by the positive investor sentiment and mostly in-line macro reports from across the euro area. The EUR/USD currency pair edged higher for the fifth consecutive session as the dollar remained on the back foot due to the looming November US Presidential elections. The EUR/USD currency pair today rallied from an initial low of 1.1858 in the Australian session to a high of 1.1900 before retracing some of its gains […]
The euro today rallied higher against the US dollar buoyed by the positive investor sentiment and mostly in-line macro reports from across the euro area. The EUR/USD currency pair edged higher for the fifth consecutive session as the dollar remained on the back foot due to the looming November US Presidential elections.
The EUR/USD currency pair today rallied from an initial low of 1.1858 in the Australian session to a high of 1.1900 before retracing some of its gains and heading lower.
The pair’s initial rally was boosted by positive market sentiment after China reported improved industrial output and retail sales figures for August showing signs of a robust economic recovery. The release of the in-line French consumer price index report for August by Insee had a muted impact on the pair. The in-line Italian inflation report for August published by Istat also had a minimal effect on the currency pair, which kept falling. The upbeat German ZEW survey data for September barely moved the pair, despite both the current assessments and current situation prints beating analysts estimates.
The upbeat ZEW eurozone economic sentiment survey also contributed to the pair’s second rally. The release of the mixed US export and import price indexes by the Bureau of Labor Statistics caused the pair to give up most of its gains.
The currency pair’s future performance is likely to be affected by market sentiment and tomorrow’s FOMC rate decision,
The EUR/USD currency pair was trading at 1.1878 as at 13:06 GMT, having fallen from a high of 1.1900. The EUR/JPY currency pair was trading at 125.15, having dropped from a high of 125.77.
© SimonMugo for Forex News, 2020. |
Permalink |
No comment |
Add to
del.icio.us
Post tags: Bureau of Labor Statistics, Consumer Price Index, EUR/JPY, EUR/USD, Eurozone, Import and Export Prices, Insee, Investor Sentiment, Istat, ZEW, ZEW Economic Expectations
Feed enhanced by Better Feed from Ozh
This Quarter Was Different: The Big Reversal
We’ve been all over the “Big Reset,” which is upending many things. It’s disheartening to hear most of the Street analysts speak as if nothing…
Why Bonds Are Behaving Like Risky Assets
Why Bonds Are Behaving Like Risky Assets
Authored by MN Gordon via EconomicPrism.com,
“When the [credit] delusion breaks, people all with…
Commodities Are Practically Bulletproof Investments Going Forward
The markets have heard Powell’s message of higher interest rates, and the damage they could cause the greater economy, loud and clear. The S&P 500…
NATO Officially Blames “Sabotage” For Nord Stream Damage; Fourth Leak Discovered
#Bitcoin and #gold Could Rally by Year’s End: Bloomberg @business Analyst
Multipolar World Order – Part 2
Macro Pulse Early Warning: Need A Bigger Boat
7 Profitable Places to Hide Your Money as We Enter a Bear Market
Nomura Hikes Fed ‘Terminal Rate’ Forecast, Warns “Everything Else Is An Emerging Market”
In Latest Recession Signal, Money-Supply Growth Plummeted to a Three-Year Low in August
Should you buy ATOM as Cosmos Hub released the ATOM 2.0 whitepaper?
The Housing Bubble Has Officially Burst : Case-Shiller Records First Drop In Home Prices Since 2012
One Of The Market’s Most Important ‘Stress’ Indicators Is Flashing Red
-
Economics20 hours agoAnti-Globalism Is Going Mainstream – Which Means Engineered Disaster Is About To Strike
-
Precious Metals17 hours agoWhen and Where Will Gold Bottom?
-
Drilling News18 hours agoAton announces the first results and completion of the resource infill RC drilling programme at Hamama West
-
Economics7 hours agoThere’s Blood In the Streets! Here’s Why & What To Do About It
-
Uncategorized22 hours agoStockman Slams Washington’s Pointless War On Behalf Of A Fake Nation
-
News Releases24 hours agoSILVERCORP REPORTS 2022 AGM RESULTS AND APPOINTS NEW DIRECTOR
-
Economics7 hours agoCommodities Are Practically Bulletproof Investments Going Forward
-
Companies18 hours agoNevada Exploration Provides Project Updates and Seeks Expressions of Interest
