Euro rebounds against Dollar from 2-year low

Economies.com
2019-05-08 05:32AM UTC

Euro fluctuated higher in a narrow range during the Asian session, witnessing its rebound for the sixth session in nine sessions from its lowest since May 30th, 2017 against the US dollar, on the threshold of developments and economic data expected today by the economies of the Euro-Zone and Deputy Governor of the Federal Reserve, Lael Brainard's speech in Richmond.

 

As of 05:25 GMT, EUR/USD rose 0.12% to $1.1204, compared to the opening at $1.1191, after reaching a high of $1.1207 and a low of $1.1189.

 

Markets are currently looking forward to Germany, the largest economy in the Euro-Zone, to release the seasonally adjusted Industrial Production Index, which could reflect a drop to 0.5% from 0.7% in February, while the annual reading may show a widened decline to 2.7% vs 0.4%. This comes before we witness the ECB's monetary policy meeting account statements.

 

On the other hand, markets are currently awaiting the Member of the Federal Reserve Board of Governors, Lael Brainard to speak at a community hearing hosted by the Richmond Federal Reserve Bank, this comes one week after the Fed decided to keep interest rates between 2.25% and 2.50% and to reduce the cuts of bond re-purchases before the program ends in September.

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