Tuesday, October 23, 2018

European session euro rose against

European session: the euro rose against the US currency

During the European session, the Forex market the euro rose against the US dollar amid agreed with the forecast data on inflation and unemployment in the euro zone.

Inflation in the eurozone in August, as expected, slowed down amid lower energy prices showed on Friday preliminary Eurostat data.

Inflation dropped to 0.3 percent to 0.4 percent in July. The result coincided with the expectations of economists.

Inflation moved further downwards from the desired level of the European Central Bank "below, but close to 2 percent".

Meanwhile, core inflation, which excludes energy prices, food, drink and tobacco, rose slightly to 0.9 percent in August to 0.8 percent in July.

The cost of food, alcohol and tobacco dropped by 0.3 percent, while energy prices decreased by 2 percent. As compensation, the cost of services expanded by 1.2 percent, while prices of non-energy industrial goods increased by 0.3 percent.

In turn, the unemployment rate in the euro zone remained unchanged at a 21-month low in July, reflected data, Eurostat published on Friday.

The unemployment rate was 11.5 percent in July - it was unchanged from June and in line with expectations.

The number of unemployed amounted to 18.409 million compared to 18.405 million in June.

The unemployment rate for the 28 EU countries have also remained stable at 10.2 per cent in July.

The British pound fell against the dollar after the strong growth at the beginning of the session. Today published data on house prices.

Rising prices of homes in the UK unexpectedly accelerated in August, Nationwide survey results showed.

Nationwide housing prices rose 11 percent compared with last year in August, after rising by 10.6 percent in July. Economists had expected growth in housing prices slowed down to 10.2 percent.

The average house price rose to 189,306 pounds in August from 188,949 pounds in July.

While the current result is lower than the growth of 11.8 percent in June, the growth in housing prices continues to outpace revenue by a wide margin, said Robert Gardner, chief economist at Nationwide.

"However, at the national level, the availability of housing does not look much by historical standards, partly due to low mortgage rates," he said.

On a monthly basis, prices rose 0.8 percent in August after rising 0.2 percent in July: more than 0.1 percent growth expected by economists. This marked the sixteenth consecutive month of rising prices.

"housing market outlook remains very uncertain"Said Gardner, "Nevertheless, the favorable economic outlook is likely to provide ongoing support for housing demand. "



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