June 21, 2024

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Börse Express – Forex: Euro little changed ahead of UK and US data

FRANKFURT (dpa-AFX) – The trend of the euro Friday didn’t move at first. In the morning, the shared coin traded at $1.0321, the same level as Thursday evening. The European Central Bank recently set the benchmark rate at 1.0338 (Wed: 1.0252) dollars. Already on Wednesday, a surprisingly sharp drop in inflation in the US weighed on the dollar, which in turn pushed the euro above $1.03. More recently, the common currency has been oscillating around this round mark.

“According to several representatives of the US Federal Reserve, reducing the inflation rate is necessary to ensure better long-term growth,” wrote analysts at Landesbank Hessen-Thüringen. However, the rate hikes announced by the central bank have a dampening effect on consumer sentiment and demand, which has already been affected in real terms. In this context, experts referred to the US consumer climate for August, which was determined by the University of Michigan in the afternoon. Development data from Great Britain will already attract attention in the morning./la/zb

 ISIN  EU0009652759

AXC0061 2022-08-12/07:41

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