{"id":104501,"date":"2020-09-11T09:01:16","date_gmt":"2020-09-11T08:01:16","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=104501"},"modified":"2020-09-11T09:01:16","modified_gmt":"2020-09-11T08:01:16","slug":"104262-eur-usd-euro-extends-gains-towards-1-1850","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/104262-eur-usd-euro-extends-gains-towards-1-1850\/","title":{"rendered":"EUR\/USD: Euro Extends Gains Towards $1.1850"},"content":{"rendered":"<ul>\n<li><strong>Euro (EUR) buoyant after no surprises from German inflation data<\/strong><\/li>\n<li><strong>ECB economic forecasts were upbeat and little effort was made to talk the Euro lower<\/strong><\/li>\n<li><strong>US Dollar (USD) retraces gains as US inflation comes into focus<\/strong><\/li>\n<li><strong>Yesterday\u2019s jobless claims remained steady hinting as slowing labour market recovery<\/strong><\/li>\n<\/ul>\n<p>The Euro US Dollar (EUR\/USD) exchange rate is extending gains for a third straight session on Friday. The pair settled +0.1% on Thursday at US$1.1813 slightly off the weekly high of US$1.1918. At 07:15 UTC EUR\/USD trades +0.2% at US$1.1837.<\/p>\n<p>There were no surprises from German inflation figures. The data showed that prices declined -0.1% month on month in August, in line with forecasts. Spanish Industrial output surprised to the upside, declining -6.4% year on year in July, against a -9.9% decline forecast.<\/p>\n<p>The data comes after the European Central Bank provided no obstacles for a stronger Euro in the previous session. As expected, the central bank kept monetary policy unchanged. However, the economic projections were more upbeat than expected and ECB President Christine Lagarde didn\u2019t talk down the Euro as it had been widely believed she would.<\/p>\n<p>The US Dollar is drifting lower versus its major peers as it retraces minor gains in the previous session. Another selloff in tech stock unnerved investors on Thursday boosting demand for the safe haven greenback.<\/p>\n<p>The US economic calendar was quiet on Thursday with weekly jobless claims headlining. Initial claims disappointed with 884,000 Americans signing up for unemployment benefit. Analysts had been expecting a drop to 846,000. The week before claims were at 881,000. This means that initial claims were broadly unchanged, suggesting that the labour market recovery is slowing.<\/p>\n<p>Investor attention will now turn to US inflation data, the consumer price index (CPI). Analysts are forecasting a 0.3% increase in inflation month on month in August, down from a 0.6% increase in July. Consumer prices are expected to climb 1.2% in August compared to a year earlier, up from 1% the previous month. At these levels inflation clearly remains sluggish but is showing signs of picking up as the US economy continues to reopen.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Euro (EUR) buoyant after no surprises from German inflation data ECB economic forecasts were upbeat and little effort was made to talk the Euro lower US Dollar (USD) retraces gains as US inflation comes into focus Yesterday\u2019s jobless claims remained steady hinting as slowing labour market recovery The Euro US Dollar (EUR\/USD) exchange rate is [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":5102,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1381],"tags":[1413,1395,1393,1387,1397,1398],"class_list":{"0":"post-104501","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eur","8":"category-usd","9":"tag-ecb","10":"tag-eur","11":"tag-euro","12":"tag-inflation","13":"tag-us-dollar","14":"tag-usd"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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