EUR/USD has strengthened due to declining consumer confidence in the United States.

EUR/USD has strengthened due to declining consumer confidence in the United States.
Create at 1 year ago (Sep 18, 2023 12:16)

The preliminary Consumer Confidence Index for the United States, a state considered a benchmark for the U.S. economy, stands at 67.7, down from the previous figure of 69.5 and below the forecast of 69.1 in September. This has led to a 0.26% increase in the US Dollar Index (DXY) and a 10-year U.S. Treasury bond yield of 4.32%.

Over the past several months, economic data from the United States has consistently shown a robust economic outlook, reinforcing the possibility that the Federal Reserve (Fed) intends to raise interest rates again by the end of 2026. This is due to the Consumer Price Index (CPI) exceeding expectations, along with retail sales for the same month and favorable unemployment claims figures in September.

 

Christine Lagarde, President of the European Central Bank (ECB), announced on Friday that policymakers did not consider the possibility of further interest rate cuts. Lagarde also stated that the ECB's intention is to maintain interest rates at elevated levels for an extended period and is prepared to raise interest rates if necessary.

 

Furthermore, the Harmonized Index of Consumer Prices (HICP) for the Eurozone in August will be disclosed, and preliminary Composite PMI figures for September are expected to be released. These are crucial data points for profit seekers, and the EUR/USD exchange rate will be closely watched moving forward.

 

Source: Fxstreet

EUR/USD news today

Overview
Today last price 1.0666
Today Daily Change 0.0009
Today Daily Change % 0.08
Today daily open 1.0657
 
Trends
Daily SMA20 1.0782
Daily SMA50 1.093
Daily SMA100 1.0895
Daily SMA200 1.0828
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