Euro rises for third straight session versus greenback

Economies.com
2018-12-19 16:31PM UTC

Euro rose in American trade off November 20 lows against the dollar following earlier data from the euro zone and the US today. 

 

As of 04:!4 GMT, EUR/USD rose 0.62% to 1.1431, with an intraday low at 1.1360, and the highest since December 10 at 1.1439. 

 

Earlier German data showed producer prices rose 0.1%, slowing down from 0.3% in October, while rising 3.3% y/y, besting estimates of 3.1%. 

 

European Commission President Jean Claude Juncker warned that an unorganized Brexit would be "total disaster" as Britain faces strong Parliamentary opposition to the latest Brexit agreement. 

 

Otherwise, earlier US data showed the current trade deficit rose to $125 billion as expected from $101 billion in the second quarter. 

 

US existing home sales rose 1.9% in November to an annualized 5.32 million units from 5.22 million in October, beating expectations of a 0.4% drop to 5.20 million. 

 

The Federal Open Market Committee is wrapping up its two-day policy meeting today, with analysts expected the fourth rate hike of the year to below 2.25%. 

 

The Fed will also release three-year forecasts for growth, inflation, unemployment, and interest rates. 

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