31 Jan 2014
EUR/USD falls below 1.3500
FXstreet.com (Córdoba) - The EUR/USD extended losses and printed a fresh 2-month low at the beginning of the American session after the latest string of US data.
The US consumer spending rose 0.4% in December while personal income fell 0.2%. Meanwhile, data showed PCE price index increased just 1.1% across 2013, well below the Fed's target of 2%. As for the EUR/USD, the pair accelerated lower and hit a low of 1.3496 so far, and continues to trade near lows, recording a 0.4% loss Friday, its fourth daily decline in a row.
EUR/USD weighed by ECB expectations
"Growing expectations that the ECB will trim rates as early as next Thursday are fueling a continued slide in EUR/USD", says Jamie Coleman, Editor at FXBeat.
The US consumer spending rose 0.4% in December while personal income fell 0.2%. Meanwhile, data showed PCE price index increased just 1.1% across 2013, well below the Fed's target of 2%. As for the EUR/USD, the pair accelerated lower and hit a low of 1.3496 so far, and continues to trade near lows, recording a 0.4% loss Friday, its fourth daily decline in a row.
EUR/USD weighed by ECB expectations
"Growing expectations that the ECB will trim rates as early as next Thursday are fueling a continued slide in EUR/USD", says Jamie Coleman, Editor at FXBeat.