The US Dollar can’t manage to continue growing, and the more attempts to rise it makes, the more doubts appear that it can really rise during this particular period of market fluctuations. The EUR/USD has clearly set a course for 1.20 and may resume falling only after reaching this level.
The statistics is against the USD so far. The numbers published last week, which were followed with insight, turned out to be weaker than expected and investors lost their interest (that was already very low) to the American currency. For example, the Retail Sales expanded by 1.6% m/m in September, which is quite good in comparison with the August reading of –0.1% m/m, but it’s still less than the expected number of +1.7% m/m. The same can be told about the inflation in September. The CPI increased by 0.5% m/m after adding 0.4% in August. And that’d be okay, but investors expected +0.6% m/m. On top of that, the Core Inflation added only 0.1% m/m although it was expected to increase by 0.2% m/m.
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