Euro at five-month nadir before inflation data
2018-05-16 09:18:55 GMT (Economies.com)
Euro at five-month nadir before inflation data

Euro steadied on Wednesday against a basket of major rivals while hovering near five-month lows against the dollar, as investors shun new positions before European inflation data are out, which would give clues on the chances of policy tightening later this year. 

 

EUR/USD last traded at 1.1845, near the opening of 1.1837, with a session-high at 1.1854, and the lowest since December 22, 2017 at 1.1815. 

 

Euro closed down 0.8% yesterday, the second loss in a row and the largest since March 28 as the dollar index spiked against major rivals. 

 

Dollar's surge came alongside a similar one in 10-year US treasury yields to seven-year highs at 3.095%, rekindling fears about yawning gaps in interest rates between the US and other countries. 

 

Now investors await crucial inflation data later today for the euro zone, with consumer prices expected to have risen 1.2% in April, down from 1.3% in March, while core prices are pinned at 0.7% growth. 

 

European Central Bank President Mario Draghi will deliver opening remarks at an ECB event held in honor of Vítor Constâncio, in Frankfurt; at 12:00 GMT.

 
 
 
  Symbol Last Change Chg.%
1.1770
-0.0179
1.4964%
1.3470
-0.0073
0.5361%
16.439
-0.232
1.389%
71.355
0.805
1.141%
78.66
-0.64
0.81%
1292.495
-26.535
2.012%
 
 
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