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EUR/USD keeps rising, at 7-week highs

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 14, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Córdoba) - EUR/USD broke above 1.1450 and climbed to 1.1472, hitting the highest level in almost two months as the USD plummets across the board.

    USD down on Beige Book

    Earlier in the morning it was the US retail sales and the PPI report that weakened greenback in the market and recently the Federal Reserve Beige Book triggered another decline of the dollar in the market. According to the report: “Manufacturing turned in a mixed but generally weaker performance during the latest reporting period, with a number of districts noting adverse effects from the energy sector".

    EUR/USD above September highs

    The euro rose above 1.1459 (September highs) and is now looking toward 1.1500. The pair is about to post the highest daily close since August 26 as it continues to move with a bullish bias and holding upside momentum.
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