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Euro Mixed After Macroeconomic Data Disappoints

January 14, 2019 at 19:53 by Vladimir Vyun

A closeup on the euro noteThe euro was mixed today following the release of lackluster macroeconomic data in the eurozone. The currency gained on the US dollar, which remained extremely soft, but was flat versus the Great Britain pound and fell against safe currencies like the Japanese yen and the Swiss franc.

German wholesale prices dropped 1.2% in December after rising 0.2% in November. Eurozone industrial production declined 1.7% in November after increasing 0.1% in October. Analysts had expected an increase of 0.3% for both indicators. The eurozone current account surplus shrank to €38.7 billion in the third quarter of 2018 down from €59.9 billion in the second quarter.

European Central Bank President Mario Draghi will testify before the European Parliament tomorrow. Traders can expect volatility during and immediately after the event, though the Brexit vote in the British Parliament can grab traders’ attention away from Draghi’s speech.

EUR/USD edged up from 1.1459 to 1.1468 as of 19:40 GMT today, touching the high of 1.1482 intraday. EUR/GBP was flat at 0.8910 after touching the high of 0.8952 and the low of 0.8875, which was the lowest since December 5. EUR/CHF dropped from 1.1285 to 1.1253.

If you have any questions, comments, or opinions regarding the Euro, feel free to post them using the commentary form below.

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