Home / Forex & Currency Exchange News / EUR/USD Fails to Keep Gains, Falls Below Opening Level

EUR/USD Fails to Keep Gains, Falls Below Opening Level

EUR/USD attempted to rally after data showed that core inflation was below expectations (0.1% actual versus 0.2% forecast) but failed to maintain upward momentum and slipped below the opening level. Speculators continue to bet on an interest rate hike from the Federal Reserve in December, and that is likely to support the dollar until then.

CPI rose 0.3% in September, matching forecasts exactly. The index was up 0.2% in August.

Net foreign purchases were at $48.3 billion in August. That was below the July value of $102.8 billion but above the median forecast of $22.0 billion.

EUR/USD as of 2016-10-18

If you have any comments on the recent EUR/USD action, please reply using the form below.

Posted on Forex blog. Click Here For Original Source Of The Article

About Louie Lewis

Louie Lewis
Successful forex trading starts with you first. Then comes the actual strategies and techniques. I have been involved with forex and forex trading for a few years now. It is a wonderful way to build wealth. The learning never stops and I want to help others along their journey into this wonderful market of opportunity.

Check Also

FX Favorable for US Dollar

FX Favorable for US Dollar

EUR/USD is trading near its lows since Mar 1 today. After positive fundamentals in the US and very weak data in the Eurozone, the market became clear in being favorable to the dollar. This week, important macroeconomic events are scheduled for Thursday and Friday, hence the market will be consolidating within the next few days. […]

Leave a Reply

Your email address will not be published. Required fields are marked *