ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for default Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.

EUR/USD Retraces Downwards to 0.9950 Before United States CPI

Share On Facebook
share on Linkedin
Print

EUR/USD lost its footing and has fallen under the 1.000 price level during the early hours of today (Thursday). The short-term outlook reveals that this price decline is due to a lack of buyers. Nevertheless, the United States October CPI data will soon give a new direction to the pair.

©

The risk avoidance situation helped the USD to gain some strength yesterday, which caused the pair to break its three days in a row profiting. As investors are being careful during the opening hours of today, the pair found it difficult to recover from downward pressure. Also, the United States Dollar index recorded a 0.75% gain yesterday (Wednesday), however, it was recently noticed gathering little gains at 110.55.

EUR/USD Retraces Downwards to 0.9950 Before United States CPI

More Events That May Influence EUR/USD Price Dynamics
The yearly CPI in the United States is foreseen to fall to 8% two months ago (September). While the main CPI which doesn’t consist of volatile food and energy is anticipated to slide lower to 6.5% from 6.6% on an annual basis.

Nevertheless, a hot inflation report with the main CPI arriving higher than September’s 6.6%, may cause investors to rethink the chances of another 75 basis points interest rate increase from the Federal Reserve by next month (December). Consequently, this will supply some strength to the USD, but EUR/USD will fall lower.

Learn from market wizards: Books to take your trading to the next level

 

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

Leave A Reply

 
Do you want to write for our Newspaper? Get in touch: newspaper@advfn.com