Euro rebounds from two-week low ahead of Fed's minutes

Economies.com
2018-11-29 17:12PM UTC

Euro tilted higher in American trade off November 14 lows versus the greenback, following a basket of data from the euro zone and the US today while the Federal Reserve releases its last meeting's minutes today. 

 

As of 04:51 GMT, EUR/USD rose 0.15% to 1.1383, with a session-high at 1.1402, and a low at 1.1349. 

 

Earlier Spanish data showed GDP growth at 0.4% as expected in the third quarter, while rising 1.4% y/y, slowing down from 1.7% in the second quarter. 

 

French consumer spending rose 0.8%, compared to a 2% drop in September while beating estimates of a 0.5% increase, as German consumer prices rose 0.1%, slowing down from 0.2% in October. 

 

On a yearly basis, German consumer prices rose 2.3%, slowing down from 2.5%, while Spanish consumer prices rose 1.7%, slowing down as well from 2.3% in October. 

 

German unemployment change fell by 16 thousand, adding to the 12K drop in October, while analysts expected a 10K drop. 

 

US Housing, Labor Data 

 

Earlier US data showed pending home sales fell 2.6% m/m in October, compared to a 0.7% increase in September, while analysts estimated a 0.8% increase. 

 

On a yearly basis, sales slid 4.6%, compared to a 3.3% drop in October, while analysts expected a 2.8% decline. 

 

US personal income rose 0.5% in October, beating estimates of 0.4% and improving above September's 0.2% increase. 

 

Personal spending rose 0.6% in October, beating forecasts of 0.4%, and improving upon September's 0.2% increase, which was revised from 0.4%. 

 

Unemployment claims for the week ending November 24 rose by 10 thousand to a total of 234 thousand, while continuing claims for the week ending November 17 rose by 50 thousand to 1.710 million. 

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