Euro Stabilizes Near $1.15 Line
Euro has slightly steadied versus US dollar today. The euro/dollar pair is trading at 1.1497, down 0.04% on the day. The single currency strengthened after the greenback lost its upside impulse amid comment of US President on Fed policy.
Tomorrow, the ECB will publish the details from its August policy meeting. As the ECB is on track to wind up its stimulus program at the end of the year, the markets are focusing on the timing of a rate hike next year. The ECB has stated that it will not raise rates before the “end of the summer”, which many analysts have interpreted as September 2019.
Today, the US will publish data on producer price index (PPI). It is expected to show a monthly increase of 0.2%, up from the previously reported -0.1%. Core PPI is also expected to show a rise of 0.2%, also up from -0.1%. Lower than expected PPI could drive US Treasury yields down.