urs at 1.0740, trading a handful of pips below the level and with the USD not far from its recent highs.gapped lower at the opening amid comments from Bank of Japan Governor Kazuo Ueda, hinting at a shift of the ultra-loose monetary policy. “The BoJ could have enough data by year-end to determine whether it can end negative rates,” Ueda noted, adding they will focus now on a “quiet exit.” The news put pressure on the USD.
Furthermore, signs that the Chinese economy revives underpinned the mood. China’s inflation picked up modestly in August, following a negative reading in July. The rose 0.3% MoM and 0.1% YoY. At the same time, mortgage demand and corporate loans surged, suggesting the country could be turning the corner.
The Euro eased modestly following the release of the Eurozone Economic Forecasts report, as the European Commission downwardly revised growth projections. The EU GDP is now seen at 0.8% in 2023 and 1.3% in 2024, down from 1.1% and 1.6%, respectively, in May’s document. European stock markets hold in the green but pulled back from their early highs. At the same time, US futures aim for a positive start, although it does not seem the USD will stay on the bearish path ahead of key data releases later this week. The United States will publish the August CPI on Wednesday, while the European Central Bank will unveil its monetary policy decision on Thursday. Meanwhile, the US macroeconomic calendar has nothing relevant to offer this Monday.
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: FXStreetNews - 🏆 14. / 72 Read more »