Nice entry pure Market structure.EUR/USD recovers the majority of its intraday losses and returns above 1.1150 in Friday’s New York session. The major currency pair pares losses as the US Dollar (USD) falls back after the release of the United States (US) Personal Consumption Expenditures Price Index (PCE) for August, which indicated that inflation remains on track to return to bank's target of 2%.
The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, retreats to near 100.40 and declines toward the key support of 100.20. The report showed that the annual PCE inflation grew by 2.2%, slower than estimates of 2.3% and July's print of 2.5%. The core inflation, which excludes volatile food and energy prices, rose expectedly by 2.7% year-on-year from 2.6% in June. Month-on-month inflation data grew by 0.1%.
The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, retreats to near 100.40 and declines toward the key support of 100.20. The report showed that the annual PCE inflation grew by 2.2%, slower than estimates of 2.3% and July's print of 2.5%. The core inflation, which excludes volatile food and energy prices, rose expectedly by 2.7% year-on-year from 2.6% in June. Month-on-month inflation data grew by 0.1%.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.