EURUSD is deepening its losses to a two-week low ahead of European inflation data

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EURUSD fell on Thursday to deepen its losses for the third day, recording a two-week low as USD continues to buy against most major and minor currencies. This comes ahead of the release of European inflation data with the final reading of consumer prices in December.

EURUSD fell more than 0.1% at 08:05 GMT, trading at $ 1.1375, the opening price of $ 1.1390 ​​and a high of $ 1.1400, the lowest of $ 1.1371 since January 4.

EURUSD lost 0.2% on Monday, its second consecutive daily loss as investors focused on buying the greenback during that period.

EURUSD is deepening its losses to a two-week low ahead of European inflation data


The dollar index rose more than 0.1% on Thursday, extending its gains for the third day in a row, reaching a two-week high of 95.89 points as the US currency continued to trade against most major and minor currencies.

USD purchases come as the best alternative investment, especially in view of the rising risks facing other global currencies, especially the euro, as signs of a slowdown in the European economy continue to weaken, which reduces the possibility of normalizing European monetary policy during the year.

In order to reassess those possibilities, investors are expected to release later today the major inflation data in Europe, with the final reading of consumer prices in December, and the initial reading fell more than expected.

The final reading of the consumer price index for December is expected to rise by 1.7%. The preliminary reading rose by 1.6% and prices rose by 1.9% in November, excluding food and fuel prices. Initial rise of 1.0% the same as the previous month.

 

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