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EUR/USD (EURUSD=X)
| Previous Close | 1.1153 |
| Open | 1.1152 |
| Bid | 1.1146 |
| Day's Range | 1.1131 - 1.1162 |
| 52 Week Range | 1.0450 - 1.1162 |
| Ask | 1.1140 |
- Investing.com
Bearish dollar momentum building; sterling hits one-month high
The U.S. dollar fell Monday ahead of the release of minutes from the Federal Reserve's July policy meeting and Chair Jerome Powell's upcoming speech at Jackson Hole later this week. The minutes, due on Wednesday, and Powell's speech on Friday are likely to be the main drivers of currency movement for the week, and traders expect a dovish tone to emerge. “The signs are subtle, but bearish dollar momentum is starting to build,” said analysts at ING, in a note.
- Investing.com
Dollar edges higher ahead of retail sales; sterling gains on GDP growth
The U.S. dollar edged higher Thursday, but remained close to seven-month lows after the release of benign inflation data, while sterling rose after solid growth data. The figures added to cooler-than-expected producer prices earlier in the week, and suggest inflation is on a downward trend which would provide the Federal Reserve with headroom to start cutting interest rates. The next data point is U.S. retail sales later in the session, and will garner significant attention as consumption accounts for about two-thirds of U.S. economic growth.
- Investing.com
Dollar on back foot ahead of CPI; sterling slips
The U.S. dollar steadied Wednesday, after overnight weakness, ahead of the release of the July consumer price index, while sterling weakened after benign inflation data. The U.S. currency retreated Tuesday after the July producer price index came in softer than expected for July, resulting in traders shifting bets slightly towards a 50 basis point cut in September. The PPI reading ramped up hopes that a consumer price index inflation reading, which is due later on Wednesday, is also expected to show inflation remained benign in July, providing the Federal Reserve with more headroom to begin trimming rates.
