Euro under pressure ahead of key ECB Monetary Policy decision – EUR/USD Market Outlook – 29/10/2020
With COVID-19 cases rising and several European countries applying new [...]
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U.S. dollar regains bullish momentum
Weekly synopsis
U.S. dollar gained versus its major counterparts last Friday, amid the investors having digested the inflation data in the U.S. while in the meantime awaiting for the FED's policy meeting outcome and the BOJ's latest data release this week.
U.S.'s CPI rises 0.2%
The nation's consumer price index escalated, for the month of August, 0.2% and surpassed the estimations for a 0.1% rise. The core consumer prices appreciated 0.3%, while the core CPI rose, within a period of 12 months through August, 2.3%. The U.S. dollar reached the 96.11 level, indicating 0.9% appreciation for the day, last Friday.
The EUR/USD traded 0.8% higher to 1.1155 while having made a weekly loss of 0.7%. The GBP/USD pair before settling at 1.3001 has traded as low as 1.2998.
The British currency, the sterling, resumes being under pressure, following the Bank of England's monetary policy stabilization last Thursday.
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