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

Festive Food Sales Help Cranswick’s Accelerated Revenue Growth
Cranswick plc (LON:CWK), one of the UK’s leading food producers today provided a trading update covering the 13 weeks leading to Christmas. They reported…
The Biggest Threat To The Broad January Rally Is On The Table
In his Daily Market Notes report to investors, Louis Navellier wrote: Threat To The January Rally The Fed day has arrived; a 25 bps increase is expected…
You Think the Global Economy Is Brightening? Beware: The Big Hit Is Yet to Come
Relief is spreading among economic analysts and stock market experts. Energy prices are decreasing noticeably. The energy supply this winter seems secure;…
-
Base Metals13 hours ago
St George looks to become a ‘dominant player’ in Mt Ida lithium belt with Woolgangie acquisition
-
Uncategorized14 hours ago
Greentech picks up new base metals prospect south of Whundo
-
Energy & Critical Metals11 hours ago
Grain Oriented Electrical SteeI: India Steps on the Gas Pedal
-
Economics15 hours ago
Analyzing the Labor Market Versus the Stock Market
-
News Releases17 hours ago
Newmont Corporation Files Early Warning Report
-
Uncategorized18 hours ago
Guy on Rocks: How did Guy’s ASX stocks picks perform in 2022?
-
Financing News6 hours ago
Osino Announces Progress on Definitive Feasibility Study For Twin Hills Gold Project, Namibia
-
Energy & Critical Metals10 hours ago
Study finds ocean energy could save UK over £1bn in dispatch costs