euro is finally stronger after a rough few days.
The currency is up by 0.4% at 1.0744 against the dollar as of 7:29 a.m. ET.
On Wednesday, the euro tumbled to the lows of the year, around 1.0665.
Earlier this morning, data showed that the eurozone’s core CPI rose by 0.5% year-over-year in October, in line with expectations. However, CPI rose by only 0.2% month-over-month, below expectations of 0.3%.
Separately, France’s unemployment rate came in at 10.0% in the third quarter, a slight uptick from the prior reading of 9.9%.
As for the rest of the world, here’s the scoreboard as of 7:32 a.m. ET:
- The Japanese yen is little changed at 109.11 per dollar. “The market appears to be pausing ahead of the psychologically important JPY110 level,” wrote Marc Chandler, the global head of currency strategy at Brown Brothers Harriman, in commentary. Separately, the Bank of Japan unleashed an unlimited bond-buying program.
- The British pound is up by 0.3% at 1.2481 against the dollar after retail sales in the UK climbed by 1.9% month-over-month in October, significantly above economists’ forecasts of 0.4%.
- The Australian dollar is down by 0.1% at .7470 per dollar after the latest jobs report disappointed. The Australian economy added 9,800 jobs in October, compared to expectations of 20,000, and the unemployment rate held at 5.6%.
- The US dollar index is down by 0.3% at 100.07 ahead of a heavy data day. CPI, housing starts, initial jobless claims, and the Philly Fed will all be released at 8:30 a.m. ET. Moreover, Janet Yellen will testify before the Joint Economic Committee on Thursday.
- The Russian ruble is up by 0.6% at 64.3910 per dollar, while Brent crude oil, the international benchmark, is up by 1.8% at $47.46 per barrel.
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