Germany ZEW Economic Sentiment
|Latest Release:||16-12-2014 10:00:00|
|Next Release:||15-10-2013 09:00:00|
|Source:||Zentrum fÃ¼r EuropÃ¤ische Wirts...|
The euro edged higher against its US counterpart Wednesday amid stronger than forecast inflation data, but the gains were contained as the Federal Open Market Committee rate decision looms over the horizon.
The EUR/USD advanced 0.07 percent to 1.2966, easing off an intraday high of 1.2981. The pair, which has declined 3.2 percent over the past month, faces initial support at 1.2923 and resistance at 1.2997.
In economic data, Eurozone inflation was revised upward in August, the European Commission reported today. Eurozone consumer prices advanced 0.4 percent annually in August. A preliminary report released August 29 said consumer price growth had fallen to a five-year low of 0.3 percent.
So-called core inflation, which strips away volatile elements such as food and energy, increased at an annual rate of 0.9 percent.
Meanwhile, US consumer inflation declined in August for the first time since April 2013, the Labor Department reported today. Consumer prices declined 0.2 percent in August, which translated into an annual gain of 1.7 percent. Economists forecast an annual increase of 1.9 percent.
Core inflation was flat in August. Compared to year-ago levels, core prices were up 1.7 percent, official data showed.
Softer inflation is unlikely to deter the Federal Reserve from tapering bond purchases for the...
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