Euro settles higher against dollar
2017-12-01 18:01:03 GMT (
Euro settles higher against dollar

Euro tilted higher in American trade away from the lowest since November 23, heading for the fourth weekly profit in a row, following a basket of data from the euro zone and the US.


As of 05:49 GMT, EUR/USD rose 0.21% to 1.1929 from the opening of 1.1904, with an intraday high at 1.1940, and a low at 1.1851. 


Earlier Spanish data showed the manufacturing PMI rose below expectations in November, while the same index in Italy missed forecasts as well, and passed them in France, while steadying in Germany. 


The manufacturing PMI for the whole euro zone rose beyond expectations of 60.1, while reports showed that German Chancellor Angela Merkel has started negotiations with the Democratic Socialist Party to form a governing coalition. 


Otherwise, earlier US data showed the ISM Manufacturing PMI down to 58.4 in November from 58.7 in October, while ISM Manufacturing Prices fell as well to 67.0 from 68.5, as construction spending accelerated to 0.5% from 0.3% in September. 


Federal Reserve Bank of Dallas President Robert Kaplan participated in a panel discussion at the Border Economic Development and Entrepreneurship Symposium, in Texas, while Federal Reserve Bank of Philadelphia President Patrick Harker spoke about approaches to economic growth at a policy forum hosted by the Federal Reserve Bank of Philadelphia.


Political concerns mounted amid accusation by the FBI against former Trump national security adviser Philip Flen of perjury, and expectations of easy conviction. 


Special investigator Robert Mueller, who's been investigating Russian interference with the US elections, lopped similar accusation to the Trump campaign, accusing Flen with cooperation with Russia and Ukraine to hurt US interests. 


Now markets await the Senate's vote on the tax reform bill supported by President Donald Trump, amid concerns about its impact on the federal deficit.

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