CURRENCY: Euro narrows losses slightly

The euro traded around $1.0970 on Tuesday after Monday’s pressure, as the currency fell to $1.0909 from Friday’s high of $1.1076.

“The European currency appears to have enough resilience to keep $1.10 in the picture,” currency trader Stéphane van der Meer at currency broker Ebury told ABM Financial News on Tuesday. “Apart from Friday, when the first euro zone, United Kingdom and United States joint purchasing managers’ indices for April are released, little macroeconomic data is likely to play a role in the coming days.”

The German ZEW index unexpectedly fell to 4.1, while the expectations index rose to 15.0 from 13.0. The current conditions index came in at a negative 32.5, which was 39.5 negative and 46.5 negative expected for March.

In the United States, Tuesday is all about housing and building permits for March.

Today’s speaker is Federal Reserve Director Michelle Bowman.

The euro rose 0.4 percent to $1.0974 on Tuesday. The European currency was at 0.8826 British pounds. The British pound was up 0.5 percent at $1.2436.

See also  Protest against French windmill in the sea near De Bunne: "Large windmills like the Eiffel Tower"

Ferdinand Woolridge

 "Subtly charming analyst. Beer maven. Future teen idol. Twitter guru. Lifelong bacon fan. Pop culture lover. Passionate social media evangelist."

Leave a Reply

Your email address will not be published. Required fields are marked *