Euro off two-week high against US dollar, inflation data in focus

Euro has slipped today after hitting two-week top against the US dollar in last session. Market is eyeing upcoming US inflation data after Eurozone inflation accelerated as initially estimated in September to the highest level in five months. The latest estimate from Eurostat showed that inflation in the euro area edged up to 2.2% in September from 2% in August. Core inflation, which excludes prices of food and energy, also increased slightly to 2.4% in September from 2.3% in August. In the flash estimate, the core inflation rate was stable at 2.3%. EUR/USD pair is failing to hold above 1.1700 mark though and currently quotes at 1.1698, down marginally on the day. On NSE, EUR/INR futures are quoting at 102.59, down half a percent on the day.

Powered by Capital Market - Live News