EUR/USD faces downward pressures below 1.1000 after a solid US PPI report

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• EUR/USD experienced losses during Friday’s North American session, reaching 1.0975 from a daily high of 1.1000.
• US Department of Labor report indicated Producer Price Index (PPI) growth of 0.3% MoM, exceeding expectations, with annual PPI at 0.8%. Core PPI rose by 0.3% MoM.
• University of Michigan’s survey displayed a slight drop in consumer sentiment to 71.2, while inflation outlooks for one and five years remained optimistic.

EUR/USD registered losses during Friday’s North American session after reaching a daily high of 1.1000, but an uptick in wholesale inflation in the United States (US) increased appetite for the safe-haven status of the Greenback. Hence, the EUR/USD reversed its course and trades at 1.0958, down 0.20%.