Euro Steadies Slightly Versus US Dollar
The euro has steadied today, after showing considerable losses on Monday. The euro/dollar pair is trading at 1.1484, having gained 0.17% on the day. The only major release from the Eurozone was German PPI. Later today, the Eurozone will publish consumer confidence, which is expected to post a second straight reading of -3 points.
Producer price inflation (PPI) in Germany increased in September. The German producer price index rose by 3.2% in September compared with the corresponding month of the previous year. In August, the annual growth rate was 3.1%. Economists had forecast a less significant growth rate by 2.9%. On a monthly basis, the overall producer price index rose by 0.5% in September, after rising 0.3% in August.
The European Central Bank will hold its policy meeting on Thursday. The central bank is widely expected to stand pat on its current monetary policy and benchmark interest rate positions. Markets also expect interest rates to stay at their current level through the summer of 2019.