Euro rises against dollar on strong German data

ecPulse
2014-11-18 14:18PM UTC

The euro continued its rally against the US dollar on Tuesday supported by positive data from Germany, the largest economies of the euro zone.

In a report, the ZEW Centre for Economic Research said that its index of German economic sentiment for November came better than expected and rose by 11.5 points.

The euro was also supported after ECB President Mario Draghi reiterated that the European Central Bank was willing to implement additional stimulus measures.

In testimony to the European Parliament Mr. Draghi pointed to the continued weakness in inflation rates and the weak future outlook of growth in the euro zone, which could weigh on the euro.

The euro recorded its highest level against the dollar at 1.2540 levels.

The EURUSD pair is trading 0.51% to the upside around 1.2513 at 12:17 GMT.

Forex and Currency News

Forex News

Forex

Dollar hits six-week high ahead of US growth data
2024-03-28 11:38AM UTC
US Dollar's Rise in European Trade The US dollar rose in European trade on Thursday against a ...
EUR/USD news

Forex

Euro sharpens decline to five-week trough on the interest rate gap
2024-03-28 08:30AM UTC
Euro declined in European trade on Thursday against a basket of major rivals, sharpening losses for ...
Forex News

Forex

Dollar under pressure ahead of Christopher Waller's speech
2024-03-27 11:18AM UTC
The dollar declined in European trade on Wednesday against a basket of major rivals away from ...

Forex Technical Analysis

USD CHF Analysis

Forex

The USDCHF price faces temporary negative pressure – Forecast today - 29-03-2024
2024-03-29 01:48AM UTC
USDCHF Price Analysis Expected Scenario: Bullish Trend The USDCHF pair rebounded bearishly ...
NZD USD Analysis

Forex

The NZDUSD price keeps its negative stability – Forecast today - 29-03-2024
2024-03-29 01:47AM UTC
NZDUSD Price Analysis Expected Scenario: Bearish Trend The NZDUSD price remains below the ...
AUD USD Analysis

Forex

The AUDUSD price awaits confirmed break – Forecast today - 29-03-2024
2024-03-29 01:47AM UTC
AUDUSD Price Analysis Expected Scenario: Bearish Momentum The AUDUSD price failed to sustain ...