- The EUR/USD quotes about a minimum of seven weeks, staying above the 1400 key support level.
- The euro is maintained under pressure for the sixth consecutive day in the middle of the general strength of the USD, with the US dollar index marking a new maximum of two months near the psychological level of 100.00.
- The German IPC rises 0.3% intermensual in July, while the annual rate remains stable in 2.0%, both in line with market expectations.
The Euro (EUR) is quoted under pressure for the sixth consecutive day against the US dollar (USD) on Thursday, with the EUR/USD fighting to recover while the dollar stands firm near maximum of two months. The torque fell to its lowest level since June 11 on Wednesday after the Federal Reserve (FED) maintained interest rates without changes, while US economic data stronger than expected reinforced the upward driver of the US dollar. However, the PAR found some support near the key psychological level of 1,1400, helping to limit additional losses.
At the time of writing, the EUR/USD is consolidating losses around 1,1411 during the American session, falling almost 2.83% so far this week. The pair is also on the way to registering its first monthly fall since December 2024.
New US data published by the Office of Economic Analysis on Thursday provided more fuel for the American dollar rally. The Personal Consumption Expenditure Index (PCE) —The Fed Inflation Indicator – rose 0.3% intermensual in June, in line with expectations and an increase from 0.2% in May. In annual terms, the underlying PCE increased 2.8%, slightly above the 2.7%prognosis. The general PCE index also rose an intermencing 0.3% and 2.6% year -on -year, both exceeding estimates, pointing out persistent inflationary pressures.
Personal spending increased 0.3% in June, just below the 0.4% forecast but a solid recovery from the 0.1% fall in May. Personal income increased 0.3%, exceeding 0.2% expectations and drastically recovering from the 0.4% drop in the previous month. The labor market data also showed resistance, with the initial applications of unemployment subsidy falling to 218K for the week, slightly below the 224K forecast – a sign that the labor market is still adjusted.
In response to the solid data, the US dollar index (DXY), which tracks the dollar against a basket of six main currencies, shot at a new maximum of two months, quoting near the key level of 100.00.
Earlier on Thursday, the preliminary inflation figures in Germany offered a mixed image and failed to boost the euro. The data published by Destatats on Tuesday showed that the consumer price index (CPI) rose an intermencing 0.3% in July, slightly above the prognosis of 0.2% and an increase from flat growth in June. In annual terms, the CPI remained stable in 2.0%, complying with expectations. Meanwhile, the harmonized consumer prices index (IAPC) – the preferred measure of the European Central Bank (ECB) – increased an intermennsual 0.4%, in line with the forecasts and remarkably stronger than 0.1% of June. However, the annual IAPC was softened slightly to 1.8% from 1.9%, being below the 2% objective of the ECB and the expectations of consensus.
In a separate publication, Eurostat reported that the Eurozone unemployment rate fell to 6.2% in June, slightly better than 6.3% expected. The figure of the previous month was also checked down to 6.2% from 6.3%, reflecting continuous resistance in the labor market.
Euro price today
The lower table shows the percentage of euro change (EUR) compared to the main currencies today. Euro was the strongest currency in front of the Japanese yen.
| USD | EUR | GBP | JPY | CAD | Aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.02% | 0.38% | 0.75% | 0.15% | 0.03% | 0.03% | -0.05% | |
| EUR | 0.02% | 0.39% | 0.76% | 0.18% | 0.02% | 0.06% | -0.03% | |
| GBP | -0.38% | -0.39% | 0.38% | -0.21% | -0.37% | -0.33% | -0.41% | |
| JPY | -0.75% | -0.76% | -0.38% | -0.59% | -0.71% | -0.65% | -0.76% | |
| CAD | -0.15% | -0.18% | 0.21% | 0.59% | -0.06% | -0.12% | -0.20% | |
| Aud | -0.03% | -0.02% | 0.37% | 0.71% | 0.06% | 0.04% | -0.04% | |
| NZD | -0.03% | -0.06% | 0.33% | 0.65% | 0.12% | -0.04% | -0.08% | |
| CHF | 0.05% | 0.03% | 0.41% | 0.76% | 0.20% | 0.04% | 0.08% |
The heat map shows the percentage changes of the main currencies. The base currency is selected from the left column, while the contribution currency is selected in the upper row. For example, if you choose the euro of the left column and move along the horizontal line to the US dollar, the percentage change shown in the box will represent the EUR (base)/USD (quotation).
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
