The Euro to US Dollar (EUR/USD) exchange rate has declined slightly today on an otherwise uneventful day for the common currency’s performance.
EUR/USD Exchange Rate News: Still Waters for Euro against US Dollar, ZAR, AUD
The Euro’s (EUR) decline of -0.2% against the US Dollar (EUR/USD) today has been just one of many small movements for the single currency. Elsewhere, the Euro has fallen by -0.4% against the South African Rand (EUR/ZAR) and risen by 0.2% against the Australian Dollar (EUR/AUD), 0.3% against the New Zealand Dollar (EUR/NZD) and 0.4% against the Swiss Franc (EUR/CHF).
The only major Eurozone release of the day has been the German inflation rate data for August; both the standard and EU Harmonised variants met with expectations of stagnation at 0.2% and 0.1% respectively. Little other key Eurozone data has been released today; the Spanish inflation rate for August declined, the Dutch Balance of Trade for July posted in the positive and the Italian monthly and yearly Industrial Production results both showed growth during July.
US Gap between Publications sees Healthy Gains for ‘Greenback’ Against Competition
The US Dollar (USD) has risen by 0.2% against the Euro (USD/EUR) today on a day of steady advances for the ‘Buck’. The US Dollar has advanced by more than 0.3% against the Australian Dollar (USD/AUD) and the New Zealand Dollar (USD/NZD), 0.5% against the Swiss Franc (USD/CHF) and 0.7% against the Norwegian Krone (USD/NOK). The only significant loss for the ‘Greenback’ today has been by -0.2% against an unusually strong South African Rand (USD/ZAR).
The last lot of US economic results came yesterday, although the overall indication of the data was somewhat unclear. The US Continuing and Initial Jobless Claims up to the end of August and beginning of September both showed no drops in the numbers of claimants, but on the other hand, the Wholesale inventories figure for July fell by -0.1%, indicating that consumer purchasing has been especially high in that month.
EUR/USD Exchange Rate Forecast: University of Michigan Index to give last Exchange Rate Push before Weekend
Although a number of US economic publications are due this afternoon, the most important of these is the University of Michigan Confidence Index for September. The score is considered a highly influential one and if the prediction of a drop from 91.9 points to 91.1 comes true, the impending announcement bodes particularly well for the Euro with the close of the European trading session in sight.
Current EUR, USD Exchange Rates
The Euro to US Dollar (EUR/USD) exchange rate was trending in the region of 1.1262 and the US Dollar to Euro (USD/EUR) exchange rate was trending in the region of 0.8881 today.
