Euro Climbs After Strong Eurozone Inflation Data
April 28 2017 - 1:32AM
RTTF2
The euro advanced against its major counterparts in the European
session on Friday, after data showed that Eurozone inflation
accelerated more than expected in April.
Flash data from Eurostat showed that inflation rose to 1.9
percent in April from 1.5 percent in March. Economists had forecast
the annual rate to rise to 1.8 percent.
Core inflation that excludes energy, food, alcohol & tobacco
accelerated to 1.2 percent from 0.7 percent in March.
The euro strengthened to near a 6-month high of 1.4923 against
the loonie and near a 1-year high of 1.5927 against the kiwi, off
its early lows of 1.4801 and 1.5762, respectively.
The euro climbed to 2-day highs of 1.0945 against the greenback
and 121.95 against the yen, from its previous lows of 1.0857 and
120.69, respectively.
Reversing from an early 4-day low of 1.0798 against the Swiss
franc, the euro edged up to 1.0843.
The euro rose to 1.4634 versus the aussie, from a low of 1.4528
hit at 8:45 pm ET.
Following a 10-day low of 0.8410 hit versus the pound in early
deals, the euro advanced to 0.8457.
The euro is likely to find resistance around 0.86 against the
pound, 1.10 against the franc, 1.11 against the greenback, 123.00
against the yen, 1.48 against the aussie, 1.51 against the loonie
and 1.61 against the kiwi.
Euro vs US Dollar (FX:EURUSD)
Forex Chart
From Aug 2024 to Sep 2024
Euro vs US Dollar (FX:EURUSD)
Forex Chart
From Sep 2023 to Sep 2024