The EUR\/USD dived to a daily low of 0.9631 as a reaction to US inflation, but the pair was able to recover later. CPI jumped more than estimated by 6.6% YoY, topping August 6.3%. Contrarily, headline inflation edged lower from the previous month\u2019s 8.3% to 8.2%, almost 1% lower than June\u2019s 2022 peak.
The EUR\/USD pair is recovering from earlier losses as inflation in the United States rose above estimates. CPI data is testing the patience of Fed\u2019s policymakers.
Core CPI in the US jumped to a four-decade high, exceeding forecasts, cementing the case for further Fed tightening at November\u2019s meeting. Hence, the EUR\/USD is trading at 0.9775, after sliding to 0.9631 daily low, as traders reacted to US data.
On the EU\u2019s side, the Bundesbank and Belgium\u2019s central bank chiefs, Joachim Nagel and Piere Wunsch, prompted the ECB for more interest rate hikes due to high inflation levels in the Eurozone. During the European session, German inflation figures rose as expected but persisted at high levels, as shown by HICP at 10.9%, while German CPI remained at 10%.<\/p>\n","protected":false},"excerpt":{"rendered":"
The EUR\/USD dived to a daily low of 0.9631 as a reaction to US inflation, but the pair was able to recover later. CPI jumped more than estimated by 6.6% YoY, topping August 6.3%. Contrarily, headline inflation edged lower from the previous month\u2019s 8.3% to 8.2%, almost 1% lower than June\u2019s 2022 peak.The EUR\/USD pair …<\/p>\n","protected":false},"author":13,"featured_media":71176,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[37,36],"tags":[6978,6884,6885,8496],"class_list":["post-73951","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-forex-markets","category-market-updates","tag-cpi","tag-eur-usd","tag-fed","tag-tightening-monetary-policy"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/73951","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=73951"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/73951\/revisions"}],"predecessor-version":[{"id":73956,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/73951\/revisions\/73956"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/71176"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=73951"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=73951"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=73951"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}