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EUR/USD Logs Small Gains on Stimulus Hopes

October 14, 2020 by

EUR/USD was moving sideways till about 9:00 GMT today but was rising since then. Market analysts explained the rally by hopes that US politicians will be able to reach an agreement on a COVID-19 relief package. The rally was limited, though, and has stalled after the release of a better-than-expected US Producer Price Index.

PPI (both headline and underline) rose by 0.4% in September, exceeding the median forecast of a 0.2% increase. The headline indicator rose by 0.3% in the previous month. (Event A on the chart.)

Yesterday, a report on CPI was released, showing an increase of 0.2% for both headline and underline indicators, matching market expectations, which was a slowdown from the previous month’s 0.4% rate of growth. (Not shown on the chart.)

If you have any comments on the recent EUR/USD action, please reply using the form below.

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