Dukascopy Bank Team
Dukascopy Bank SA
EUR/USD: US CPI
The European Single Currency appreciated against the US Dollar, following the United States CPI data release on Thursday at 12:30 GMT. The EUR/USD exchange currency rate gained 22 pips or 0.19% during a minute, right after the release, which pushed the rate to go upwards to trade at the 1.1680 level.
The Bureau of Labor Statistics released CPI data that came out lower-than-expected of 0.2%, compare to forecasted 0.3%.
The U.S. Bureau of Labor Statistics announced: "The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent in August on a seasonally adjusted basis, the same increase as in July,"
EUR/USD: EUR Main Refinancing Rate
The European Single Currency depreciated against the US Dollar, following the European Main Refinancing Rate announcement on Thursday at 11:45 GMT. The EUR/USD exchange currency rate lost 3 pips or 0.03% during a minute, right after the release. The market did not react much at the release time, but it pushed the rate to go downwards in the following minutes to continue trading at the 1.1620 level.
The European Central Bank released European Main Refinancing Rate announcement that came out in line with expectations of 0.00%.
The European Central Bank says: "The Governing Council expects the key ECB interest rates to remain at their present levels at least through the summer of 2019, and in any case for as long as necessary to ensure the continued sustained convergence of inflation to levels that are below, but close to, 2% over the medium term."
GBP/USD: UK Official Bank Rate
British Pound depreciated against the US Dollar, following the UK Official Bank Rate on Thursday at 11:00 GMT. The GBP/USD exchange currency rate lost 23 pips or 0.18% during a minute, right after the release. The market did not react on the data release at all at this time.
The Bank of England released Bank of England Official Bank Rate data that came out in line with expectations of 0.75%. The Votes and Monetary Policy Summary together with the MPC Official Bank Rate data release came out today at 11:00 GMT, in which all votes were in favor to hold the rate unchanged. .
The Central Bank said: "Since the Committee's previous meeting, there have been indications, most prominently in financial markets, of greater uncertainty about future developments in the (EU) withdrawal process."
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.
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