Euro stays near 16-month nadir ahead of German sentiment data

2021-11-24 10:56:17 GMT (Economies.com)
Euro stays near 16-month nadir ahead of German sentiment data

Euro declined in European trade against dollar on track to hit 16-month lows, under pressure from potentially divergent monetary policies between the US and Europe ahead of crucial German sentiment data today.

 

EUR/USD fell 0.1% to 1.1232, with an intraday high at 1.1255, after closing up 0.15% yesterday, the first profit in three days away from 16-month lows at 1.1225.

 

Euro gained some ground yesterday following solid data from major sectors in Europe for November.

 

Euro declined once more today under pressure from divergence policy prospects for the US and Europe, with the Federal Reserve expected to hike rates faster than the ECB in 2022.

 

Investors await important data from Germany on business sentiment in November, which might hammer euro further if results were negative as expected.

 

The German ifo Business Climate is expected down to 96.8 in November from 97.7 in October.

 
 
 
  Symbol Last Change Chg.%
1.1315
0.0045
0.3953%
1.3320
0.0010
0.0744%
Tadawul
10810.60
-60.02
0.55%
22.861
-0.185
0.801%
68.141
-4.260
5.884%
70.91
-2.53
3.44%
1793.475
8.385
0.470%
 
 
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