Euro continues to rise for the second day in a row against USD

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USD fell on the European market on Thursday against a basket of global currencies, extending losses for the third day in a row, the lowest level in 10 days, with the acceleration of sales of the strongest currency in the world with the reluctance of investors and the decline of US bond yields from the highest level in seven years , Ahead of key US data on key inflation levels in September.

USD index fell more than 0.2% to 11: 45 GMT, trading at 94.83 points, the opening level of 95.06 points, the highest at 95.11 points and the lowest at 94.79 points, the lowest since October 1.

The index ended yesterday’s trading down 0.15%, the second consecutive daily loss, as US bond yields fell and overshadowed positive data showing US producer prices rose in September.


The 10-year US bond yield fell for a second consecutive day from a seven-year high of 3.261% to 3.152% on Thursday as part of a correction and profit-taking, and after criticism of US Federal Reserve Chairman Donald Trump.

Trump said he did not like what the Federal Reserve was doing and that the inflation target had already been achieved, so he did not think it was necessary not to rush to raise interest rates.

Later in the day, investors were looking for important data from the US on key inflation levels represented by consumer prices in September, which provide new evidence on the possibility of accelerating the rate hike.

The consumer price index is expected to be released by 12:30 GMT, forecasting a 2.4% annual increase in September from a 2.7% rise in August and a 0.2% reading in the same monthly reading.

 

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