- EUR / USD remains sideways, above 1.1300.
- The dollar shows a slight fall on Thursday, most of it runs in ranges.
- Wholesale inflation in the Eurozone reaches 21.9%
EUR / USD is trading in the zone of highs for the day around 1.1335, but the main characteristic is that it is still moving in a small range with support above 1.1300 and limited for the moment by 1.1340 and higher by 1.1360, the high of Wednesday.
In the last hour, the EUR / USD approached the zone of the highs driven by a slight weakness of the dollar throughout the market. The pair is moving sideways, as are most crosses in the forex market.
The dollar it falls modestly, while bond yields do not vary significantly. At 13:30 GMT the report of requests for unemployment benefits will be published, which will be the data of the day.
The Eurozone wholesale inflation data showed a 5.4% rise in the producer price index in October, higher than the 3.5% expected, sending the annual rate to 21.9%, higher than the 19% consensus and 16.1% of the month previous.
ING analysts say that although equity markets remain volatile, EUR / USD has stabilized since Wednesday, after comments from Powell and strong US data limited the dollar’s slide. The November employment report will be released on Friday (includes non-farm payrolls) and they estimate that strong data is needed to prevent the market from pricing a more dovish tone by the Fed. “No data today, the dollar could continue calm, if there is no new news about the virus, “said the analysts.