The euro fell against the US dollar as well as some other major currencies after the release of a slew of macroeconomic reports in Europe today. Market experts attributed the euro’s decline to the weaker-than-expected inflation data. Unemployment reports, on the other hand, were surprisingly good.
The euro was little changed for the most part on Monday. While the currency fell versus some of its rivals, it managed to gain on the Great Britain pound. Overall, the euro’s performance was fairly good considering that manufacturing indices were rather bad in the most regions of the eurozone, except for France, as well as in the whole eurozone itself.
The euro backed off to new lows after attempting to rally earlier today. European politics was the main driver for the currency.
The euro was down intraday during the Tuesday’s session but bounced later, getting support from positive GDP figure released from the eurozone. Not all European macroeconomic indicators were good, though.
The euro rose against the weak US dollar, but traded flat-to-lower versus most other major currencies on Monday. Among factors influencing the currency were new developments in the Catalan situation and disappointing inflation data.
The euro was mostly flat today as markets turned their attention away from politics towards the next week’s European Central Bank policy meeting and economic data that may influence the ECB decision.
The euro was stable today as the story of Catalonia’s fight for independence continued to unfold.
Political crisis in Spain led to worries among investors and drove prices for European assets down. Yet the euro was showing muted reaction to the news so far.
The euro is trading below the opening level against most of its major rivals currently, but is showing tendency to rebound and was actually able to erase losses versus the US dollar completely. The bounce seems to follow the release of eurozone macroeconomic data, but that in no way looks justified as the indicators were disappointing for the most part.
Euro is getting some breathing room today, thanks in part to better news out of Germany. The latest trade surplus numbers are helpful, but long-term there are still issues that are likely to contribute to euro weakness.
