07:00 Japan Leading indicators composite index (October) final 97.7 - 97.2
07:00 Japan Coincident indicators composite index (October) final 100.8 - 100.7
09:00 Germany PPI (November) 0.2% 0.3% 0.4%
09:00 Germany PPI (November) Y/Y 4.4% 4.5% 4.3%
The euro declined to a two-week low against the dollar and the yen on speculation European nations will struggle to raise funds as rating companies downgrade the credit ratings of countries in the region.
The single currency fell versus 14 of its 16 major counterparts as France prepared to sell 5 billion euros ($6.6 billion) of bills after Moody’s Investors Service last week cut Ireland’s credit rating and said it may lower Spain’s.
“The rating agencies’ continued downgrades and warnings on the ratings on European countries will leave the euro vulnerable,” analysts led by Hans-Guenter Redeker, London-based global head of foreign-exchange strategy at BNP Paribas SA, wrote in a research note Dec. 17. “We continue to favor the euro-dollar breaking lower from its recent trading range.”
The dollar gained versus the euro before reports this week forecast to show the U.S. economy grew and personal spending increased.
EUR/USD: traded within $1.3130/80 range.
GBP/USD: got support at $1.5475 and bounced to the minor resistance $1.5550.
USD/JPY: traded within Y84.10-Y83.80.
European data for Monday starts at 0700GMT with German PPI data for November, while at 0900GMT, ECB current account data is due. At 1500GMT it is back to Europe for the release of EMU flash consumer confidence data for December.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at firstname.lastname@example.org.