Euro struggles after Fed statement and Spanish data

ecPulse
2014-10-30 10:26AM UTC

The euro fell against the dollar on Thursday after releasing economic data from Spain, and a direct impact of the U.S. Federal Reserve (Fed) decision of ending its quantitative easing program yesterday.

The Spanish economy showed weak pace of growth in the third quarter, as Gross Domestic Product (GDP) rose by 0.5% during the third quarter of this year compared to a rise of 0.6% during the second quarter.

Generally, growth has accelerated to 1.6% compared to the previous reading of 1.3%.

The euro continues to suffer from the dollar pressures, which recovered after the Fed’s statement to end its stimulus plans supporting the U.S. economy.

The euro will remain to the downside ahead of the euro zone confidence data for October, but is likely to remain in a bearish trend if the data came positive, as the dollar will keep it from rising.

The U.S. dollar applied pressure today by gaining 0.35% to trade at 08:35 GMT around 86.35 levels.

Forex and Currency News

Forex News

Forex

Dollar plumbs three-week low ahead of US payrolls report
2024-05-03 11:57AM UTC
Dollar fell in European trade on Friday against a basket of major rivals, extending losses for the ...
USD/JPY news

Forex

Yen hits three-week high as Japanese authorities intervene
2024-05-03 04:57AM UTC
Yen rose in Asian trade on Friday against major rivals, extending gains for the third straight ...
Forex News

Forex

Dollar rebounds ahead of US unemployment claims data
2024-05-02 11:10AM UTC
Dollar rose in European trade on Thursday against a basket of major rivals, resuming gains after a ...

Forex Technical Analysis

NZD USD Analysis

Forex

The NZDUSD price forecast update 03-05-2024
2024-05-03 13:54PM UTC
The NZDUSD price breached 0.6000$ level strong and settled above it, reinforcing the expectations ...
AUD USD Analysis

Forex

The AUDUSD price forecast update 03-05-2024
2024-05-03 13:54PM UTC
The AUDUSD price traded with strong positivity to succeed achieving our new waited target at ...
GBP USD Analysis

Forex

The GBPUSD forecast update 03-05-2024
2024-05-03 13:52PM UTC
The GBPUSD price traded with strong positivity to breach 1.2580$ level strongly but it returns to ...