Euro Stays Higher vs Dollar After Eurozone Inflation Data
Dow Jones11-04 19:08
1108 GMT - The euro remains stronger against the dollar, showing little reaction to higher-than-expected eurozone inflation data with the focus on the U.S. midterm elections. Inflation accelerated to an annual rate of 4.0% in October from 3.8% in September, exceeding the 3.9% expected by economists in a WSJ survey. Core inflation, however, held steady at 2.5% as expected. The market's attention is on the midterms where a Democratic sweep is weighing on the dollar due to concerns it could prevent additional fiscal stimulus and slow investment in AI, hitting growth and reducing the prospect of the Federal Reserve raising interest rates further. The euro rises 0.5% to $1.1249, little changed from levels before the data.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments