The upbeat market mood remains intact on the last trading day of the week as investors cheer the soft inflation data from the US and news of China easing the Covid-related restrictions.continues to edge lower below 108.00 after having lost more than 2% on Thursday and global stock indices push higher. Bond markets in the US will be closed in observance of the Veterans Day holiday but Wall Street will operate at the usual hours.
The US Bureau of Labor Statistics announced on Thursday that inflation in the US, as measured by the Consumer Price Index , declined to 7.7% on a yearly basis in October from 8% in September. The Core CPI, which excludes volatile food and energy prices, fell to 6.3% from 6.6% in the same period.
The UK's Office for National Statistics reported on Friday that the Gross Domestic Product grew at an annualized rate of 2.4% in the third quarter, compared to the market expectation of 2.1%. Other data from the UK showed that Industrial Production expanded by 0.2% on a monthly basis in September.EURUSD
registered impressive gains on Thursday and continued to edge higher during the Asian trading hours on Friday. The pair was last seen trading at its highest level since mid-August slightly above 1.0200.lost more than 400 pips on Thursday and touched its weakest level in seven weeks near 140.00 before staging a rebound on Friday. At the time of press, USDJPY was up 0.5% on the day at 141.65.price rose nearly 3% on Thursday and registered one of its largest one-day gains of the year.
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Source: Daily_Forex - 🏆 567. / 51 Read more »
Source: Daily_Forex - 🏆 567. / 51 Read more »