EUR/USD hovers at 1.1600 as muted CPI data fails to alter Fed stance
The post EUR/USD hovers at 1.1600 as muted CPI data fails to alter Fed stance appeared on BitcoinEthereumNews.com.
EUR/USD is poised to finish the week with losses of 0.21% yet it remains above the 1.16 figure for the third straight day, capped on the upside by key resistance levels after US data might not deter the Fed from cutting rates. Euro supported by upbeat PMIs; Moody’s warning on France limits upside momentum Inflation data in the US would not move the needle in favor of Fed hawks, missing estimates to the downside, though it remains far from the central bank 2% goal. After that, S&P Global showed that the economy shows signs of strength as manufacturing and services flash PMIs, expanded in October. Meanwhile, the University of Michigan (UoM) closed the docket for the day amid the US government shutdown reaching its twentieth fourth day, revealing that US consumers are growing slightly pessimistic, while estimating that prices could continue to rise. Of late, the Greenback trimmed some of its gains as the Trump administration launched a trade investigation whether China complied with a limited trade agreement reached in 20202 during President Donald Trump’s first term, revealed Bloomberg. In Europe, HCOB Flash Purchasing Managers Indices (PMIs) in October, improved from 49.8 to 50, and from 51.3 to 52.6, respectively. Both prints exceeded forecasts, an indication that business activity is picking up as demand jumps. As of writing, Moody’s Ratings changed France’s outlook to negative, affirms aa3 ratings, mentioned “France’s political instability risks hampering ability to address key policy challenges like elevated fiscal deficit, rising debt burden.” Daily market movers: EUR/USD holds firm despite solid US PMI data The US Dollar Index (DXY), which tracks the performance of the buck’s value against a basket of its rivals, is up 0.03% at 98.94, capping the EUR/USD’s advance. US Consumer Price Index (CPI) rose 3.0% in the 12 months through September, coming…
Filed under: News - @ October 24, 2025 10:26 pm