Euro slips against dollar on weak Chinese data

Economies.com
2019-07-15 18:14PM UTC

Euro fell against US dollar on trading today amid uncertainty over the growth of the global economy in the shadow of the trade war and the protectionist policies in addition to the release of weak Chinese data.

 

Markets are waiting for the results of the various negotiation rounds between the United States and China, which may result in a trade deal that prevents matters from getting worse between the two countries.

 

China's gross domestic product (GDP) grew 6.2 percent in the second quarter of this year, in the lowest pace since 1992, as official Chinese data showed on Tuesday.

 

Concerns over the growth of major economies, including the euro zone rose today on the back of weak Chinese growth data as Beijing is a considered a locomotive of global growth.

 

In the wake of all these negative signs, many of the world's central banks may tend to lower interest rates, according to prior hints.

 

In terms of trade, by 18:12 GMT, EUR/USD fell by 0.1% to 1.1259, with a high of 1.1288 and a low of 1.1254.

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