Euro is Trading at Maximum Since January 2015

Forex News

The euro rose by 0.23% and is trading at the highest level since January 2015 ($1.1777). Markets are waiting for data on the CPI of Germany. It is expected, that the preliminary consumer price index in Germany will remain unchanged at 0.2%. The US will also publish data on preliminary GDP for the second quarter. The GDP is expected at 2.5%.

The US Federal Reserve supported the base rate at 1.25% on Wednesday. According to the CME Group, the probability of a rate hike in December is 47%. Representatives of the Fed said that the economy is growing at a moderate pace, and the labor market remains strong. The Fed is planning to begin reducing its assets in the near future.