$EURUSD - The Bulls are Still in Control
, and the recent gains of the US dollar came amid renewed fears of China, which increased the purchase of the US dollar as a safe haven. Recently, the price of the euro against the rest of the other major currencies gained positive momentum amid strong signals from European Central Bank officials for the future of tightening its policy. Therefore, investors ignored the lower numbers of economic data from the Eurozone.
Producer price inflation peaked at 47.0% in March 2022 after the war in Ukraine drove up energy prices. Excluding energy, Spanish producer price inflation slowed to 7.3% in March from 9.5% in the previous month. On a monthly basis, overall producer prices fell 2.2 percent after rising 2.3 percent in February, the first increase in five months.
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