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EUR/USD was slightly lower after a large rally on Tuesday driven by weaker-than-expected US inflation. Traders awaited retail sales, PPI and New York manufacturing data later in the day.
Expectations of slowing US inflation and peaking rates favor a weaker dollar, which can support dollar-priced commodities, but the effect on feed markets is indirect.
forex.comFawad RazaqzadaNov 15, 2023Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
It confirms the large Tuesday EUR/USD rally came from weaker-than-expected US inflation, though it is dated the day after and mostly describes the aftermath.
