The USD/EUR currency pair accelerated growth significantly on Friday, as the report showed that the US consumer prices rose less than anticipated in July. The Euro gained against the Greenback 30 base points or 0.26% to continue the trading session above the 1.1798 level.
The Labour Department revealed that the US Consumer Price Index surged 0.1% over the course of July, missing expectations for a 0.2% rise. Despite the muted increase in consumer prices, some economists remained convinced that the expansion was affected by transitory factors. Furthermore, the Federal Reserve kept considering the key interest rate hike by the end of this year, albeit the decision would depend on further inflation growth pace.
| Historical Data Table | |||||
| Date | 14.04.2017 | 12.05.2017 | 14.06.2017 | 14.07.2017 | 11.08.2017 |
| Actual | -0.30% | 0.20% | -0.10% | 0.00% | 0.10% |
| Forecast | 0.00% | 0.30% | 0.20% | 0.10% | 0.20% |
| Initial Reaction on Main Pairs | |||||
| Open Price | Close Price | % Change | |||
| AUD/USD | 0.78695 | 0.78885 | 0.24% | ||
| EUR/USD | 1.17679 | 1.1798 | 0.26% | ||
| USD/JPY | 109.203 | 108.851 | -0.32% | ||
| NZD/USD | 0.72895 | 0.73038 | 0.20% | ||