Connect with us

Economics

Euro Rallies to 1-Week Highs Driven by Investor Risk Appetite

The euro today rallied against the US dollar despite the release of mixed macro prints from across the euro area driven by the resurgent investor risk appetite. The EUR/USD currency pair’s rally was also boosted by the greenback’s selloff, which started yesterday amid hopes of a US coronavirus stimulus package. The EUR/USD currency pair today rallied from a low of 1.1665 in the early Frankfurt market to a high of 1.1743 in the American session and was trading […]

Share this article:

Published

on

This article was originally published by Forex News

The euro today rallied against the US dollar despite the release of mixed macro prints from across the euro area driven by the resurgent investor risk appetite. The EUR/USD currency pair’s rally was also boosted by the greenback’s selloff, which started yesterday amid hopes of a US coronavirus stimulus package.

The EUR/USD currency pair today rallied from a low of 1.1665 in the early Frankfurt market to a high of 1.1743 in the American session and was trading near these highs at the time of writing.

The currency pair’s rally was driven mostly by positive investor sentiment despite existing concerns about the rising coronavirus cases. The release of upbeat Spanish flash consumer price index report for September by the National Institute of Statistics also boosted the pair. The positive Italian producer price index report released by Istat also lifted the single currency. The fibre’s positive momentum was further boosted by the positive eurozone economic sentiment and business climate indicator released by the European Commission.

The disappointing German flash consumer price index report released by the Federal Statistical Office did not affect the pair’s rally. The release of the US goods trade balance report by the Bureau of Economic Analysis had a muted impact on the pair, which kept rallying.

The currency pair’s future performance is likely to be affected by tomorrow’s German retail sales and unemployment reports.

The EUR/USD currency pair was trading at 1.1742 as at 18:40 GMT, having rallied from a low of 1.1665. The EUR/JPY currency pair was trading at 124.09, having risen from a low of 123.03.


© SimonMugo for Forex News, 2020. |
Permalink |
No comment |
Add to
del.icio.us

Post tags: , , , , , , , , , , ,

Feed enhanced by Better Feed from Ozh

us dollar

Share this article:

Economics

The mother of all economic crises – Richard Mills

2022.12.04
Economist Nouriel Roubini believes the world economy is lurching toward an unprecedented confluence of economic, financial, and debt crises,…

Share this article:

Continue Reading
Precious Metals

Will Your State Reject The Fed’s Digital Dollar?

Will Your State Reject The Fed’s Digital Dollar?

Authored by MN Gordon via EconomicPrism.com,

Personal and political freedoms are inseparable…

Share this article:

Continue Reading
Economics

U.S. Personal Savings Rate Sinks To 17-Year Low; So Far, Equity Markets Yawn

Equity markets continue to rally on the hopes of some combination of peak inflation, a coming slowing in the rate
The post U.S. Personal Savings Rate Sinks…

Share this article:

Continue Reading

Trending