EUR/USD Rallies on Risk Appetite, ECB Policy Outlook

EUR/USD rallied today on risk appetite and the outlook for an interest rate increase by the European Central Bank. Traders’ sentiment improved after Chinese President Xi Jinping talked about opening China’s markets to foreign investors. Meanwhile, ECB Governing Council member Ewald Nowotny talked about policy normalization in the near future. While the currency pair is still trading above the opening level as of now, it has backed off from the day’s highs.

PPI rose 0.3% in March. That was a bigger increase than 0.1% predicted by analysts and 0.2% registered in February.

Wholesale inventories rose 1.0% in February. That is compared to a 0.8% increase predicted by analysts and the 1.1% gain logged in January.

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