EURUSD increased in price
Updated
EURUSD continues its winning streak with trading prices at 1.087, the highest level in over a month.
Following the weakening of the USD after the US Consumer Price Index (CPI) remained unchanged in October, contrary to expectations of a 0.1% increase and an annual rate of 3.2%, lower than the previous month's 3.7%. Core inflation also slowed down more than anticipated. Bond yields and stocks on Wall Street also rose. This combination weighed down on the Greenback, causing it to drop to monthly lows and providing strong momentum for the EURUSD pair to continue its upward trend towards the 1.09x level.
Following the weakening of the USD after the US Consumer Price Index (CPI) remained unchanged in October, contrary to expectations of a 0.1% increase and an annual rate of 3.2%, lower than the previous month's 3.7%. Core inflation also slowed down more than anticipated. Bond yields and stocks on Wall Street also rose. This combination weighed down on the Greenback, causing it to drop to monthly lows and providing strong momentum for the EURUSD pair to continue its upward trend towards the 1.09x level.
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