The EURUSD pair is trading its highest for the day in the 1.1645 price region, as the dollar weakened in the last trading session of the day. Worse-than-expected US macroeconomic numbers and the better performance of WallStreet after tumbling European and Asian equities boosted the pair.
However considering the lack of critical data in the Europe area, the pair remains restricted to typical levels and not far from this year’s low.
The US published September Industrial Production, which fell 1.3% MoM, while Capacity Utilization printed at 75.2%, both missing the market’s expectations. The macroeconomic calendar will have nothing to offer this week, until Friday, when Markit will publish the preliminary estimates of its October PMIs for the EU and the US.
Tuesday, the focus will be on US Treasury yields, the latest favorite measure of inflationary pressures. The yield on the 10-year note peaked at 1.627% but quickly retreated below the 1.6% level, adding to the dollar’s weakness at the end of the day.
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