Euro falls off two-week high versus dollar

Economies.com
2018-12-04 18:27PM UTC

Euro fell in American trade off November 23 highs versus the greenback, following a spate of data from the euro zone and amid a lack thereof from the US. 

 

As of 05:56 GMT, EUR/USD shed 0.11% to 1.1341, with an intraday low at 1.1319, and a high at 1.1419. 

 

Earlier French data showed the government deficit fell to 87 billion euros in October, while the government announced a freeze on fuel taxes for six months to calm protests in Paris. 

 

The government's Prime Minister condemned violence in the streets and promised punishment for all responsible.

 

Otherwise from Spain, unemployment change fell 1.8 thousand, compared to a 52.2 thousand surge in October. 

 

Producer prices for the euro zone rose 0.8%, accelerating from 0.6% in September, while rising 4.9% y/y, up rom 4.6%. 

 

Federal Reserve Bank of New York President John Williams isheld a press conference about local employment and labor force trends at the Federal Reserve Bank of New York, earlier today.  

 

A scheduled Congress testimony by Fed Chair Jerome Powell tomorrow Wednesday was delayed after President Donald Trump declared the day an official holiday in honor of late President George H.W Bush. 

 

Later this week, Powell will speak about the economy and rural America at the Housing Assistance Council's annual event, in Washington DC, while the payrolls report is expected to show no change in the unemployment rate at 3.7%. 

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