The euro was slated for a seven-week drop, the longest run since December 1999, against all but one of its 16 major counterparts before the European Central Bank officials meet on September 4.
The currency was slightly changed at $1.3164 as of 7:38 a.m. in London. It declined 0.6% this week and erased 1.7% since July 31, almost its second monthly drop.
“The market is focusing on the CPI figures. If we’re able to confirm inflation slowing in Europe, the euro will fall on the back of strong expectations for additional easing next week,” said Tomohito Katagiri, Analyst at Ueda Harlow Ltd.
Earlier, ECB President Mario Draghi mentioned inflation projections in the eurozone fell, igniting bets policymakers would integrate further monetary stimulus.
The material has been provided by InstaForex Company – www.instaforex.com
The euro was slated for a seven-week drop, the longest run since December 1999, against all but one of its 16 major counterparts before the European Central Bank officials meet on September 4.
The currency was slightly changed at $1.3164 as of 7:38 a.m. in London. It declined 0.6% this week and erased 1.7% since July 31, almost its second monthly drop.
“The market is focusing on the CPI figures. If we’re able to confirm inflation slowing in Europe, the euro will fall on the back of strong expectations for additional easing next week,” said Tomohito Katagiri, Analyst at Ueda Harlow Ltd.
Earlier, ECB President Mario Draghi mentioned inflation projections in the eurozone fell, igniting bets policymakers would integrate further monetary stimulus.
The material has been provided by InstaForex Company – www.instaforex.com
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