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EUR/USD holds below 1.0900 as US political violence boosts US Dollar
The post EUR/USD holds below 1.0900 as US political violence boosts US Dollar appeared on BitcoinEthereumNews.com. EUR/USD trades with a bearish bias near 1.0885 in Monday’s early Asian session. The US PPI inflation rose faster than expected in June. US political violence over the weekend lifts the Greenback, a safe-haven currency. The EUR/USD pair attracts some sellers around 1.0885 during the early Asian session on Monday. The major pair edges lower amid risk aversion, triggering a fresh bid of the US Dollar (USD). The Eurozone May Industrial Production, July NY Empire State Manufacturing Index will be released on Monday, along with the Federal Reserve’s (Fed) Mary Daly speech. The wholesale inflation in the US, as measured by the Producer Price Index (PPI) rose to 2.6% YoY in June from a revised reading of 2.4% in the previous reading, above the consensus of 2.3%. The core PPI climbed 3.0% YoY, surpassing the expected 2.5%. However, the attention remains on the recent cooler Consumer Price Index (CPI) inflation, which raised expectations for a rate cut. Additionally, the University of Michigan’s Consumer Sentiment Index survey dropped to 66.0 in July from 68.2 in June, the lowest in seven months, falling short of the expected increase to 68.5. The UoM 5-year Consumer Inflation Expectations declined slightly in July to 2.9% from the previous reading of 3.0%. Fitch analysts said that the Federal Open Market Committee (FOMC) might cut interest rates sooner than later, citing potential concern at the Federal Reserve over the labour market. The Fed will be worried about additional weakness in the labour market down the road. The US political violence over the weekend has boosted a safe-haven currency like the Greenback and created a headwind for EUR/USD. During the rally in Butler, Pennsylvania on Saturday, former President Donald Trump was injured in an assassination attempt. One spectator was killed in the attack, two others were critically injured,…
The post EUR/USD holds below 1.0900 as US political violence boosts US Dollar appeared on BitcoinEthereumNews.com.
EUR/USD trades with a bearish bias near 1.0885 in Monday’s early Asian session. The US PPI inflation rose faster than expected in June. US political violence over the weekend lifts the Greenback, a safe-haven currency. The EUR/USD pair attracts some sellers around 1.0885 during the early Asian session on Monday. The major pair edges lower amid risk aversion, triggering a fresh bid of the US Dollar (USD). The Eurozone May Industrial Production, July NY Empire State Manufacturing Index will be released on Monday, along with the Federal Reserve’s (Fed) Mary Daly speech. The wholesale inflation in the US, as measured by the Producer Price Index (PPI) rose to 2.6% YoY in June from a revised reading of 2.4% in the previous reading, above the consensus of 2.3%. The core PPI climbed 3.0% YoY, surpassing the expected 2.5%. However, the attention remains on the recent cooler Consumer Price Index (CPI) inflation, which raised expectations for a rate cut. Additionally, the University of Michigan’s Consumer Sentiment Index survey dropped to 66.0 in July from 68.2 in June, the lowest in seven months, falling short of the expected increase to 68.5. The UoM 5-year Consumer Inflation Expectations declined slightly in July to 2.9% from the previous reading of 3.0%. Fitch analysts said that the Federal Open Market Committee (FOMC) might cut interest rates sooner than later, citing potential concern at the Federal Reserve over the labour market. The Fed will be worried about additional weakness in the labour market down the road. The US political violence over the weekend has boosted a safe-haven currency like the Greenback and created a headwind for EUR/USD. During the rally in Butler, Pennsylvania on Saturday, former President Donald Trump was injured in an assassination attempt. One spectator was killed in the attack, two others were critically injured,…
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