EUR/USD reversed its direction and after dropping below 1.0500 on Thursday and closed the day in positive territory for the first time since September
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent EUR /JPY .Eurostat will release the Harmonized Index of Consumer Prices . On a yearly basis, HICP inflation isto decline to 4.5% from 5.2%.
Market participants will continue to keep a close eye on political developments in the US. In the first half of the week, US Treasurycame under heavy selling pressure on growing fears over a US government shutdown. If Republicans and Democrats remain far apart on budget negotiations ahead of the October 1 deadline, market mood could sour and make it difficult for EUR/USD to stretch higher.
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