EURO EDGES BELOW $1.10 MARK; ALL EYES ON EURO ZONE INFLATION DATA

Published on Nov 30, 2023 14:10

EURUSD stepped under $1.10 mark as all eyes turn to Euro zone inflation data scheduled for later in the day. The pair is quoting at $1.0966, down 0.24% on the day. The dollar index was holding around 102.83, up 0.15% on the day but all set for a monthly loss of over 3% in November. Growing expectations of reduced bets of Federal rate hike is adding pressure on US treasury yields and dollar alike. US economy expanded 5.2% in Q3, higher than 4.9% in the advance estimate and focus is now on core Personal Consumption Expenditure (PCE) Price Index for October and unemployment claims due for release later in the global day. Meanwhile, German Retail Sales rose 1.1% on month in October versus a 0.4% increase expected and -0.8% in September, the latest official data released by Destatis showed. On year, the figure was down 0.1% in October as against 4.3% annual decline in September. On the NSE, EURINR Dec futures slipped in choppy trades today and was currently quoting at 91.25, down 0.31% on the day.