The Euro is falling to its lowest level in a month and a half

The Euro is falling to its lowest level in a month and a half

The euro fell against many of the world's currencies during Thursday's Asian session, resuming its losses for the sixth day in a row against the US dollar, and then returned to rise during the European session, trading near the lows in a month and a half, Strong against the majority of major currencies backed by rising yields on 10-year US Treasury bonds to their highest level in seven years following the release of strong US data. On the other hand, fears of the European Union's reaction to Italy's adjustment of deficit I wish.

At 07:55 GMT the euro rose against the US dollar by more than 0.1% to trade at $ 1.1490 from today's opening at $ 1.1475. The pair recorded a high of $ 1.1494 and a low of $ 1.1463. Six weeks.

Over the course of yesterday's trading, the euro recorded losses against the US dollar by about 0.6% for the sixth day in a row, the longest loss series since the beginning of December 2017, due to strong gains achieved by the US dollar and rising to a high in a month and a half after the strong rise of return The 10-year US Treasury note hit its highest level since 2011, boosted by strong data released yesterday, as the US economy announced its job data for the private sector for September and showed a higher-than-expected number of jobs, Mo sector last September, which showed the fastest pace of growth since 2008.

The strong data increased the likelihood that the Federal Reserve will continue its monetary tightening policy and raise interest rates for the fourth time in a row at the December meeting.

On the other hand, the Federal Reserve Chairman Jerome Powell's remarks on Wednesday supported the possibility that the Federal Reserve will raise interest rates at a higher rate than expected, as the US economy continues to grow and move in a positive direction.

On the other hand, the euro posted heavy losses this week due to Italy's budget deficit crisis, as the Italian government announced its budget deficit of 2.4% of GDP over the next three years higher than that approved by EU financial regulations.

However, reports were reported yesterday that the Italian government has reversed its decision and is planning to cut its budget deficit to 2.0% within the next three years, commensurate with the EU regulations. Markets are awaiting the European Union's response to the Italian proposal.

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