On Friday EUR has increased against USD, to continue its recovering for the second day respectively from the lowest level in six weeks, but it’s about to take the first monthly losses since the last February, because the fears about the gap between the monetary policy between Europe and the US had renewed, especially after the probability of tightening the monetary policy by the Central Europe Bank in Eurozone had backed down, and the probability of increasing the American interest prices during the next December for the third time had increased, and investors are waiting today for an important data about inflation levels in Eurozone to re-evaluate the probability of tightening the Europe monetary policy.
At 6:55 GMT USDEUR had increased by 0.1%, to trading at 1.1798$, and the opening price of today’s trading is 1.1784$, and record the highest price at 1.1799$, and the lowest price at 1.1772$.
EUR had ended yesterday trading with an increasing by 0.4% against the USD, in a first gain during four days, because of the recording process from the lowest level in six weeks 1.1717 USD which is recorded on the last day.
During September trading which ended on Friday, the United Europe currency EUR had losses by 1% against the American currency, and it’s about to take the first monthly losses since the last February, and the second monthly losses during the current year.
The probability of tightening the monetary policy in the eurozone during the next monthly meeting by the Europe Bank has backed down, especially after the Bank governor Mario Draghi witness in front of the Europe parliament in Brussels, and he warned about hasten the tightening the monetary policy in eurozone, and confirmed about not obstructing the economy recovery path by a hurry monetary decision, and he pointed about not bear the cost of any haste steps.
The probability of increasing the American interest prices in December has jumped this week from 60% to 70% after the federal reserve president Janet Yellen said that the American economy is strong enough to stamina a monetary policy more tighter, and she pointed to the need for continues the increase in interest prices gradually despite the inflation weakness in the country.
And about re-evaluate the probability of tightening the Europe monetary policy during the next October meeting, the investors are waiting today for an important data about the inflation levels in the eurozone during the current month, the positives of this data will reinforce that probability.
At 9:00 GMT the first reading of the customer’s prices index for August will issue and the expectation is an increase from 1.5% to 1.6% in August and excludes the oil and food prices the expectation is the same last reading an increasing by 1.2%.