August 12, 2020 10:13 amEUR/USD. August 12, 2020 – Euro is growing moderately towards the 1.18 area
The euro continues to moderately strengthen against the dollar after the publication of positive macroeconomic data from Germany. The index of investor confidence in the country's economy jumped in August to 71.5 points from 59.3 points in July. Experts predicted a decrease in the indicator to 58 points.
At the same time, the US dollar also received some support after the publication of the PPI indicator. Producer price index rose 0.6% month-on-month in July, better than forecasted 0.3%. This was the highest growth rate since October 2018.
Today you should pay attention to the data on inflation in the United States. And since the PPI is a leading indicator of inflation, it can be assumed that the consumer price index is growing. Experts predict an increase in the indicator from 0.6% to 0.7%. This is definitely a positive factor for the American currency.
The current quote for the EUR/USD pair is 1.1770. During the day, we continue to follow the news publications.