Euro Drops As Shaky Q4 Data Shape UpEuro Drops As Shaky Q4 Data Shape Up

On Friday, the euro declined in the foreign exchange market after the early European trading. It was by the indications of a weak point in the region’s two leading economies.

Moreover, the EUR/USD pair traded at $1.1027, below 0.1%. It is along with the EUR/GBP pair that plunged 0.2% to 0.8398.

First up, German retail sales tumbled by 3.3% in December. The figure was much weaker than expected. It has also been indicating the country’s shoppers reined in their spending in the final month of last year.

Meanwhile, retail sales are an unpredictable indicator. The amount of them is disappointing after a surprise in the GfK sentiment indicator hinted on Wednesday.

The indication was about consumer confidence in the euro zone’s leading economy is healthy.

Earlier Friday, official data demonstrated the French economy surprisingly contracted in the final quarter of last year. It is with GDP declining 0.1%, the first time it has signed since Emmanuel Macron took over as President.

The figure was much lower than the anticipation, as economists on average had predicted an increase of 0.2% in the quarter.

On the flip side, France has been on hit by a surge of strikes. The attack was amid protests versus Macron’s controversial planned pension reforms.

Further Movements in the Forex Market

In addition, preliminary data for eurozone GDP are already due. The French numbers may also be partly offset by better-than-expected ones out of Spain.

It is where GDP increased by 0.5% rather than the 0.4% anticipated.

Meanwhile, Sterling inched up after consumer confidence hit a 16-month high rank in January.

The upsurge experienced was on the day that the U.K. officially leaves the EU.

To add, the GBP/USD pair was at a three-week high of $1.3140 in the FX Market.

Elsewhere, the US Dollar Index Futures that tracks the greenback versus a basket of other currencies, strengthened by 0.1% to 97.73 after forex trading.

The dollar continues to be in demand as a form of a safe haven.

However, the number of deaths from China’s coronavirus also exceeds 200, with impending 10,000 people affected.

After that incident, the Chinese yuan was a little tougher on Friday. It is along with the USD/CNY pair that facilitates the confidence by the World Health Organization in China’s attempts to contain the outbreak.

In a statement, WHO Director-General Tedros Adhanom Ghebreyesus said, “I have seen the capacity, and I believe (China) will control this outbreak as soon as possible.”

He indicates that on the heels of proclaiming the virus epidemic a global health emergency.

by Elliot Chang
References and Bibliography
Elliot Chang 8 years on NYSE
Rated:NR/0 Votes
1 Views
Add To My Article Reading List
Add To My Article Reading List
Print Article
Print
More Article By Elliot Chang
More Article by Elliot Chang
Share
More Articles From Currency Trading
More Articles From Currency Trading
Related Articles and Readings
Inheritance Tax and How to Avoid it By: Gerald Smith
They say that two things are inevitable in life: death and taxes. We don't much care for thinking about either. Inheritance tax is the one tax we don't pay until we are dead, so perhaps understandably it's a subject way down our list of priorities. When pressed, most people express ...
Euro Pounds Currency Exchange How This Affects Your Bulgaria Property Purchase By: Toby Fisher
Currency markets update 26th April 2006Sterling Falls Against MajorsSterling hit a fresh two-week low against the euro and also lost ground against the dollar on Wednesday after UK growth data which came in line with expectations prompted some position adjustment.Britain's economy grew 0.6 percent in the first quarter of 2006 ...
Weak Euro Threats Japanese Exporters By: Himfr Tian
Japan's high dependence on exports of electronic products and automotive manufacturers to finally get through two years of sales decline and heavy losses, profits, despite a slight pick up, give the euro's weakness in its head with a brick Based ...
Accepting Payments in Euros can prove Expensive By: Philip Suter
Like many owners of self catering holiday rental homes in Europe, my property in the South of France will attract visitors from inside and outside the euro zone.I learnt at any stage after the Eurowas introduced that the banks would not suffer financially as a result of losing business on ...
Euro Pounds Currency Exchange How This Affects Your Spanish Property Purchase II By: Toby Fisher
Sterling Holds GainsSterling rose to within a whisker of last week's seven-month high versus the dollar on Monday after stronger than expected British retail sales and upbeat mortgage lending numbers dampened talk of a rate cut.The dollar weakened against most major currencies after the Group of Seven industrialised nations on ...
The information provided in this article and/or the comments is the sole responsibility of their respective authors and does not necessarily reflect the opinion of ezinepost.com. ezinepost.com  does not endorse any article and/or comments published by our web users unless otherwise noted. 

Member Panel

login to submit articles and more

StatisticsEZINEPOST.COM

  • » Active Categories: 419
  • » Active Articles:252470
  • » Active Authors:32056
  • » Active Members: 38202
  • » Statistics Updated:
    - Wed Jan 15th, 2020 03:31PM EST