The euro stagnates and changes around 1.16 dollars Per EFE

Frankfurt (Germany), Oct 26 (.) .- The euro has changed this Tuesday around 1.16 dollars, despite the fact that the mood in the markets has improved, because the divergence of the monetary policies of the Federal Reserve (Fed ) and the European Central Bank (ECB) promote the “greenback”.

The euro was trading at around 3:00 pm GMT at $ 1.1594, compared to $ 1.1613 in the last hours of the European currency market trading the previous day.

The European Central Bank (ECB) today set the euro’s reference exchange rate at $ 1.1618.

Some good economic data from the US economy also contributed to the appreciation of the dollar.

New home sales in the United States (US) were up 14% in September from the previous month, and consumer confidence improved in October.

House prices in the US rose 18.5% year-on-year in August and 1% from the previous month (19.2% year-on-year in July), according to data from the Federal Housing Finance Agency (FHFA).

But some economic data from the euro area is not very encouraging, as inflation outlooks rise due to rising energy prices and supply bottlenecks.

The ECB notes that banks have maintained in the third quarter the standards of loans to companies, but have tightened the conditions of loans to households for the purchase of a house.

“In the fourth quarter of 2021, banks expect to tighten standards for home and business lending and relax consumer lending a bit,” according to the ECB’s credit survey.

The Governing Council of the ECB meets on Thursday to assess the economic recovery in the euro area.

The governor of the Bank of Spain, Pablo Hernández de Cos, “continued yesterday concerned about the economic recovery, due to the problems of the supply chain and the increase in the prices of raw materials”, consider Monex Europe analysts.

The single currency was exchanged in a fluctuation band between 1.1591 and 1.1626 dollars.

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