The EUR\/USD reached a daily high of 1.0532 on Wednesday, but Euro upside remains limited due to mixed economic data for the EU and US. Eurozone Retail Sales fell 2.1% YoY in August versus -1.2% expected, while the European Producer Price Index (PPI) improved slightly over the forecast -11.6%.
European Retail Sales also slipped, reaching -2.1% against the forecast -1.2%. ECB Vice President Luis de Guindos and Governing Council member Mario Centeno noted that economic activity is likely to remain subdued in the future, with inflation declining at a rapid pace throughout the EU.
The US ADP Employment Change missed the mark on Wednesday, printing at 89K versus the forecast 153K. The US Services Purchasing Manager Index (PMI) numbers for September came in as-expected, declining from the previous 54.5 to 53.6.
However, US Factory Orders for August showed a 1.2% increase in activity versus the expected 0.3% and rebounding from the previous showing of -2.1%. Comments from the ECB’s Lane and De Guindos on Thursday will bring further economic data, while the US side will see Challenger Job Cuts and Initial Jobless Claims. On Friday, US Non-Farm Payrolls forecasts show a slight decline from 187K to 170K.<\/p>\n","protected":false},"excerpt":{"rendered":"
The EUR\/USD reached a daily high of 1.0532 on Wednesday, but Euro upside remains limited due to mixed economic data for the EU and US. Eurozone Retail Sales fell 2.1% YoY in August versus -1.2% expected, while the European Producer Price Index (PPI) improved slightly over the forecast -11.6%. European Retail Sales also slipped, reaching …<\/p>\n","protected":false},"author":13,"featured_media":58857,"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":[6923,10573,6884,10579,10580,10578],"class_list":["post-90423","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-forex-markets","category-market-updates","tag-ecb","tag-eu-retail-sales","tag-eur-usd","tag-european-producer-price-index","tag-non-farm-payrolls","tag-us-adp-data"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/90423","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=90423"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/90423\/revisions"}],"predecessor-version":[{"id":90430,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/90423\/revisions\/90430"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/58857"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=90423"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=90423"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=90423"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}