||

The EUR/USD pair is gradually finding its balance.

The primary currency pair retraced lower by Friday, with the current EUR/USD exchange rate standing at 1.0904.

Excessive market emotions are slowly subsiding.

In October, American earnings increased by 0.2% m/m, following a previous 0.4% m/m growth. This outcome was in line with expectations. Spending also rose by 0.2% m/m after a 0.7% increase in September.

These moderate results can be seen as an intermediate stage in economic development.

The Federal Reserve’s closely watched inflation report provided interesting data. The Core PCE Price Index in October grew by 0.2% m/m, matching forecasts. Core inflation in September saw a 0.3% increase. In a year-on-year comparison, the indicator in October was 3.5%, compared to 3.7% previously.

It appears that inflation is indeed slowing down, indicating that the regulator has no pressing reasons to increase interest rates. However, this doesn't preclude them from maintaining a high rate for as long as necessary.

For instance, the eurozone has successfully managed inflation. According to preliminary data, the CPI in November dropped to 2.4% y/y from 2.9% earlier. The forecast suggested a decrease to 2.7%.

Open Trading Account

The post EUR/USD Finds Stability: Overview for December 01, 2023 appeared first at R Blog - RoboForex.

-----------------------------------------------------

By: Anna Rostova
Title: EUR/USD Finds Stability: Overview for December 01, 2023
Sourced From: blog.roboforex.com/blog/2023/12/01/eur-usd-finds-stability-overview-for-december-01-2023/
Published Date: Fri, 01 Dec 2023 08:30:29 +0000

Read More