Euro Dips Below $1.17 Line

Forex News

Euro continues to fall versus US dollar today, after sharp losses on Thursday. The EUR/USD pair is trading at 1.1622 level, having lost another 0.16% on the day. Yesterday, the single currency has lost 0.8%, as investors reacted negatively after the Italian government approved a controversial budget, which aims for a budget deficit in 2019 of 2.4% of GDP.

Eurozone consumer prices rose in September. The Eurostat reported, that the Eurozone consumer price index rose 2.1% yoy in September, matching the forecast. Core inflation, which excludes energy, food, alcohol and tobacco prices, slowed to 0.9% from 1.0% in the previous month. Economists had expected core inflation to rise by 1.1%.

Today's data also showed, that German unemployment declined significantly in September. The number of unemployed decreased by 23.000, compared to the previous month, to 2.3 million in September. Economists predicted a moderate decline of 9.000 people. The unemployment rate fell to 5.1% in September (the lowest rate since the reunification of Germany in 1990), while it was expected that it would remain unchanged at 5.2%.