17 Feb 2016
A lackluster day for EUR/USD - FXStreet
Valeria Bednarik, chief analyst at FXStreet explained that the EUR/USD pair extended its decline to 1.1105 in another lackluster journey for the common currency that traded in quite a limited range for most of the day.
Key Quotes:
"European stocks traded higher, putting some pressure over the common currency, whilst the US released some encouraging inflation data, as the PPI for final demand rose 0.1% in January compared to December 2015, while yearly basis declined by -0.2%, well above the -0.6% decline expected. Overall soft, data at least signals that weakness is moderating. Housing data was mixes, with Housing starts down to 1.1M in January, but with Building Permits resulting better-than-expected at 1.20M
The US Federal Reserve released the minutes of its January meeting late in the US afternoon, and as expected, the tone was broadly balanced. According to the Minutes, most officials saw a solid 2016 job's market, but for a number of them, inflation's outlook is more uncertain. The document also expressed some concerns on how Chinese economic slowdown may affect the US economy."
Key Quotes:
"European stocks traded higher, putting some pressure over the common currency, whilst the US released some encouraging inflation data, as the PPI for final demand rose 0.1% in January compared to December 2015, while yearly basis declined by -0.2%, well above the -0.6% decline expected. Overall soft, data at least signals that weakness is moderating. Housing data was mixes, with Housing starts down to 1.1M in January, but with Building Permits resulting better-than-expected at 1.20M
The US Federal Reserve released the minutes of its January meeting late in the US afternoon, and as expected, the tone was broadly balanced. According to the Minutes, most officials saw a solid 2016 job's market, but for a number of them, inflation's outlook is more uncertain. The document also expressed some concerns on how Chinese economic slowdown may affect the US economy."