EURUSD is falling; market players like the USD again. Early in another September week, the major currency pair is falling. The current quote for the instrument is 1.1790. The American PPI in August added 0.7% m/m after expanding by 1.0% m/m the month before and against the expected reading of 0.6% m/m. The Core PPI also improved, by 0.6% m/m, which is better than expected.
Inflation in the USA will remain high for a while. At the same time, the logistic structure for producers is as tough as before because of the pandemic effect. Investors’ attention will be focused on the price data this week: as early as Tuesday, the USA will report on the CPI for August, which is expected to show 0.4% m/m after being 0.5% m/m in the previous month.
Apart from the statistic, the “greenback” was supported by politicians: after a phone talk between American and Chinese Presidents, their first conversation over seven months, market players immediately believed that the USD has a bright future. Leaders talked about economic and financial issues, some of which are still very controversial. In addition to that, the parties discussed the specifics of working during the pandemic, as well as ecology issues.