EUR/USD: risk appetite challenged on Singapore - FXStreet

Valeria Bednarik, chief analyst at FXStreet explained that the American dollar was firmer once again, particularly against its European rivals, although the strong momentum of the currency seen on Wednesday receded.

Key Quotes:

"Asian share markets edged higher, but concerns over global growth returned after Singapore cut interest rates by surprise as growth stalled, leading to a poor performance in European and American indexes.

Data coming from both shores of the Atlantic failed to motive investors, as most of price developments occurred before the macroeconomic releases. In Europe, attention focused in the final EU CPI for March, with the headline figure revised a notch higher to 0.0% year-on-year, the monthly reading unchanged at 1.2%, and core inflation left unrevised at 1.0%.

In the US, weekly unemployment claims fell to its lowest since 1978, printing 258K in the week ended April 8th, but inflation rose less-than-expected in March, up by 0.1% monthly basis and by 0.9% compared to a year before. Soft inflation readings will keep the FED on hold for longer, when it comes to raising rates."