Currency: The Euro is getting back some of the losses
Friday, March 26, 2021 11:27 AM
(ABM FN-Dow Jones) The Euro appears to be able to recover some of its recent loss against the dollar after the release of greater than expected business confidence from Germany.
“We believe the euro could rise above $ 1.18 today,” Market Analyst Tewy Mevison of Rabobank told ABM Financial News on Friday. “With the IFO, we’re seeing more risk willingness,” Mevison said.
There is a demand for the British pound. “This seems to have a lot to do with the successful advancement of vaccinations in the United Kingdom, but also to the slight improvement in the relationship with the European Union over the supply of vaccines,” Rabobank’s Mevison said on Friday.
The analyst will mainly look at personal income and spending in the US in February on Friday, as it also includes an inflation component, which is an important indicator of the interest rate policy of the Federal Reserve’s monetary body.
UK retail sales increased in February on a monthly basis.
German business confidence in March was much higher than expected.
In the United States, in addition to income and spending, the University of Michigan final consumer confidence is also emerging today.
The euro rose 0.2 percent on Friday to $ 1.1793. The European currency fell 0.2 percent to 0.8556 pounds. The British pound rose 0.3 percent on Friday and was trading at $ 1.3784. The dollar slipped 0.1 percent to 6.5393 Chinese yuan. The dollar rose 0.3 percent today to trade at 109.4820 yen.
ABM Financial News; [email protected]; Revised text: +31 (0) 20 26 28999.