13 Jan Foreign exchange: Eurocourse increases
The last slightly thrown off the euro has recovered on Thursday from his losses from the previous day again something. At noon, the common currency cost $ 1.2041, more than the late night before. The European Central Bank (ECB) had set the reference rate at $ 1.2023 on Wednesday afternoon.
The euro was supported by current economic data from the eurozone. In December, sentiment in the currency area companies had almost reached a seven-year high.
Earlier, the US dollar had benefited from robust economic data and the prospect of higher interest rates. On Wednesday, the renowned leading indicator of the ISM Institute rose from a high level. In addition, according to Commerzbank analyst Thu Lan Nguyen “hawkish influenced” transcript to the recent rate-setting meeting of the US Federal Reserve indicated a continued gradual rate hikes despite a rather weak inflation.
So far, the Fed is signaling three rate hikes this year. The market is starting from just two increases, starting in March. While one was generally satisfied with the economic development, there was agreement that it was necessary to keep the inflation rate more precisely in view, it said in the minutes of the rate-setting meeting.
In the afternoon, analysts and investors should keep an eye on further economic data. In the US, the labor market report of the service provider ADP is also an important economic figure on the program.