• The market sentiment is upbeat weighs on US T-bond yields and the greenback.
  • Eurozone inflation rose by 3.4%, above the ECB’s target, 
  • US ISM Manufacturing PMI shows expansion in the overall economy, according to the ISM.

The EUR/USD is trimming losses, trading at 1.1596, barely up 0.13% during the day at the time of writing.  As the New York session progresses, the market sentiment has improved. The four US major stock indices are recording gains between 0.68% and 1.72%. On the other hand, renewed optimism late during the American session struck the US T-bond yields, with the 10-year benchmark note coupon losing more than a half percent, sitting at 1.472%, for the first time since Monday. 

The US Dollar Index, which tracks the US dollar performance against six peers, is recording losses for the second consecutive day, is down 0.23%, clinging to 94.04, exerting upward pressure on the EUR/USD pair.

Eurozone Consumer Price Index rose above 3.4%

In the Eurozone economic docket, the September Consumer Price Index readings were released. The Core Consumer Price Index rose by 1.9% as expected, whereas the Consumer Price index jumped above 3.3%, foreseen by economists, came at 3.4%. 

US ISM Manufacturing PMI expanded the most in four months

Across the pond, the Institute for Supply Management released the PMI for September. The reading rose to 61.1, better than the 59.6 expected by analysts. According to the report, the reading indicates “expansion in the overall economy for the 16th month in a row after the contraction in April 2020.” 

In the meantime, the University of Michigan Consumer Confidence edged slightly higher to 72.8 more than 71 foreseen. The report shows that American people are somewhat more optimistic about current economic conditions.

The favorite Fed’s reading for inflation, the Personal Consumption Expenditure Index for August, increased by 3.6% on an annual basis, a tenth higher of the expectations. 

For the next week, the European economic docket will feature on Wednesday the Retail Sales on an annual and a monthly basis, expected at 0.4% and 0.8%, respectively.

On the other hand, investors will look for the US ISM Services PMI  for September will be released on Tuesday. Further, on Wednesday, the ADP Employment for September could prelude how the Nonfarm Payrolls reading could be once it is released on Friday.



Today last price 1.1596
Today Daily Change 0.0015
Today Daily Change % 0.13
Today daily open 1.1581
Daily SMA20 1.1756
Daily SMA50 1.1775
Daily SMA100 1.1891
Daily SMA200 1.1968
Previous Daily High 1.161
Previous Daily Low 1.1563
Previous Weekly High 1.1756
Previous Weekly Low 1.1684
Previous Monthly High 1.1909
Previous Monthly Low 1.1563
Daily Fibonacci 38.2% 1.1581
Daily Fibonacci 61.8% 1.1592
Daily Pivot Point S1 1.1559
Daily Pivot Point S2 1.1537
Daily Pivot Point S3 1.1512
Daily Pivot Point R1 1.1606
Daily Pivot Point R2 1.1631
Daily Pivot Point R3 1.1653



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD retreats below 1.1300 area as NFP-inspired dollar weakness fades

EUR/USD jumped to a daily high of 1.1333 with the initial market reaction to the disappointing November Nonfarm Payrolls data but quickly returned below 1.1300. Rising US Treasury bond yields seem to be helping the dollar stay resilient against its major rivals. 


GBP/USDdrops to 1.3250 area as dollar regains strength

GBP/USD spiked above 1.3300 in the early American session with the initial market reaction to the gloomy US November jobs report. However, the greenback regathered strength on hawkish Fed commentary and forced the pair to turn south.


Gold struggles to capitalize on weak NFP data, holds near $1,770

Gold spiked to a daily high near $1,780 with the initial market reaction to the disappointing Nonfarm Payrolls data from the US but seems to be having a difficult time preserving its bullish momentum with the 10-year US T-bond yield staying resilient.

Gold News

The bull and the bear case for BTC

Bitcoin price saw a bullish impulse that faced massive headwinds before it tagged a crucial psychological barrier. Bitcoin is likely to experience massive volatility as the situation resolves over time. 

Read more

Cyber Monday 2021 Discounts!

Glued to your trading screen on Cyber Monday? Upgrade your skills by signing up for FXStreet’s Premium service, offered at a discount of up to 50%. Fellow traders have already taken advantage of Black Friday profits. What about you? 

Subscribe now!