Euro reached 3-weeks' highs. Overview for 13.09.2022

The market major on Tuesday remains strong, the current quote is 1.0148.

No important news was published yesterday, so investors had enough time to show their positive attitude in the quotes.

At the meeting in September the ECB gave absolutely unambiguous signals of readiness to make its credit and monetary policy tougher. This will take from two to five sessions. Such a confident behaviour of the regulator lifts some risks off the euro.

Moreover, the euro is also supported by a decrease in stop prices for gas in Europe. Yesterday it dropped to 2,000 USD per thousand cubic meters for the first time since June. This happened because the demand from European consumers dropped and because supply by the North Stream stopped.

Today the market is focused on the US inflation statistics. In August, the CPI is supposed to have dropped by 0.1% m/m. Americans are decreasing expectations waiting for the release: 5-years forecasts are on 2.0% after 2.35% in July and 3% in January. The hope for a decline of inflation parameters can both support market moods and push down the USD.