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© Reuters. The euro remains stable above $ 1.13
Frankfurt (Germany), Dec 1 (.) .- The euro remained stable this Wednesday above 1.13 dollars, after the appreciation of the “greenback” after the president of the Federal Reserve (Fed), Jerome Powell stated that the Fed is likely to accelerate the reduction of stimulus so that it ends before the middle of next year.
The euro was trading at around 16.10 GMT at 1.1330 dollars, compared to 1.1335 dollars in the last hours of the European trading of the foreign exchange market the previous day.
The European Central Bank (ECB) set the benchmark exchange rate for the euro at $ 1.1314.
The best estimates suggest that the rate of reduction will double from 15,000 million dollars a month to 30,000 million dollars, so that the quantitative expansion program ends in March, emphasize the analysts of MonexEurope.
This came as a surprise to the markets, which expected a more moderate normalization due to the risk to global growth.
The dollar rose, but the “greenback” rally did not hold up against most pairs at the end of the European session.
The private sector of the US economy created 534,000 jobs in November, more than expected.
But in Germany retail sales fell 2.9% year-on-year in October.
“Economic growth in the euro zone manufacturing sector stabilized in November after a four-month slowdown since the record expansion seen last June,” according to consultancy IHS Markit.
The final index of purchasing managers of the manufacturing sector of the euro area registered 58.4 points in November (flash estimate: 58.6 points, final figure for October: 58.3 points).
The single currency was exchanged in a fluctuation band between 1.1303 and 1.1360 dollars.
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