Euro Inflation

Euro Firm During Monday’s Trading, Solid Inflation Data Helps Preserve Momentum

The euro was relatively strong against its major rivals today. The inflation data released during the current trading session, being rather positive, did not give the currency a reason to reverse its trend.

The eurozone consumer inflation in August was finalized at 1.5%, up from 1.3% in July. It was the same as in the preliminary estimate and the median forecast. The euro continued to rise after the data, but the currency may yet be dragged down over the week by political uncertainty as speculators wait for the German federal election on September 24.

EUR/USD rose from 1.1919 to 1.1963 as of 11:15 GMT today. EUR/GBP advanced from 0.8787 to 0.8834, rising for the first time after six consecutive daily losses.

This post was originally published by EarnForex

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Vladimir Vyun

Vladimir is an online journalist with background in computer science and work experience in pension funds. He contributes news reports, fundamental analysis and sentiment forecasts to EarnForex.com. His main specialization is the fundamental situation in EUR/USD, the currencies of emerging economies and inter-market correlations with commodity and bond trading.