EUR/USD flat-lines around 1.0990, markets turn cautious ahead of US PPI data – by lilyfinancial EURUSD Majors Macroeconomics
the third consecutive day after retreating from a weekly high of 1.1065 following US inflation data. Market participants prefer to wait on the sidelines ahead of the USThe European Central Bank's monthly Economic Bulletin revealed on Thursday that the Eurozone’s inflation is still predicted to be too high for too long, and the prospects for economic growth and inflation are still uncertain. According to the Reuters poll, the target inflation rate of 2.
On the US Dollar docket, the US Consumer Price Index rose to 3.2% YoY from 3% in June. The figure was below the market consensus of 3.3%. While the Core CPI figure, which excludes volatile food and energy prices, fell to 4.7% from 4.8%. Additionally, the US Initial Jobless Claims increased to 248,000, above the expectation of 230,000. In response to the data, the US Dollar reversed its course and dragged the Euro lower on Thursday.San Francisco President, Mary C.
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