Euro slips for fourth session against dollar

Economies.com
2017-12-08 16:50PM UTC

Euro fell against the dollar in American trade to the lowest since November 21, heading for the second weekly loss in a row against the dollar, following a basket of data from the euro zone and the US, the world's largest economy. 

 

As of 05:31 GMT, EUR/USD shed 0.14% to 1.1757 from the opening of 1.1773, with a two-week low at 1.1730, and a high at 1.1777. 

 

Earlier German data showed the trade surplus shrank unexpectedly to 19.9 billion euros in October, while French industrial production accelerated to 1.9% in October, beating expectations of a 0.1% dip. 

 

Otherwise, the President of the European Commission Jean-Claude Junker pointed in earlier remarks to the progress made so far in Brexit negotiations, as both sides prepare for the next stage of negotiations, noting that UK Prime Minister Theresa May asserted the support she has from the government to reach a deal. 

 

Earlier US data showed the unemployment rate steadied at 4.1% as expected in November, matching the October reading and holding at the lowest rate since December 2000.

 

US average hourly earnings rose 0.2% in November, missing expectations of a 0.3% rise, while improving from October's 0.1% dip, revised from no-change. 

 

The US economy added 228 thousand new jobs in November, beating expectations of 198 thousand, and compared to October's 244K, revised from 261K. 

 

Finally, the University of Michigan's Consumer Sentiment survey fell to 96.8 in December from 98.5 in November, revised from 97.8, while analysts expected 99.0. 

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