country flagالعربية
0

Euro rises as European shares fall after weak German data

2019-08-14 12:50 pm | Resource: News | No Views : 20

 Euro rises as European shares fall after weak German data


The euro rose as Germany's DAX and France's CAC 40 fell more than 1% on Wednesday after data showed weak economic sentiment in Germany as the country's GDP shrank in July. Meanwhile, industrial production in the euro zone declined in June, according to the Euro Stat, while in the US the yield curve for the two-year and 10-year bonds reversed.
  • The DAX fell 1.42% at 12:16 CET.
  • The CAC 40 was 1.28% in the red at 12:16 pm CET.
  • Meanwhile, the FTSE 100 in London lost 0.78% at 12:17 CET.

Euro zone economic growth slows to 1.1%

On the data front, data on Wednesday showed that EU and Eurozone GDP rose 0.2% in the second quarter on a seasonally adjusted basis, and confirmed the findings of the preliminary update. The rate is compared to 0.4% and 0.5%, respectively, for the three months to March. Annual growth was unchanged at 1.1% for the currency union and 1.3% for the 28-member bloc. Weakened by 1.2% and 1.6% in the first quarter respectively.

Similarly, employment rose 0.2% in the reporting period in both regions after 0.4% from the previous similar period. Rates fell at 1.1% and 1% respectively, falling 0.2 percentage points.

Incomplete information from EU member states showed that the strongest quarterly economic growth rate was in Hungary, 1.1%. The UK shrank more, 0.2%, followed by a 0.1% decline in both Germany and Sweden. On an annual basis, Hungary advanced 5.1%. Italy's GDP came unchanged

Eurozone industrial production fell 1.6% in June

Industrial production fell 1.6% in the euro zone, while it fell 1.5% in the entire EU in July compared to the previous month, Eurostat reported on Wednesday. In the previous month, industrial production in the euro zone rose 0.9% while it grew 0.8% in the entire EU. The decline was driven both by the eurozone and the entire EU by lower capital goods and lower non-durable consumer goods.

In June, the biggest declines came on a monthly basis for each member state of Ireland, where industrial production fell 8.8% and Denmark, where it fell 7.6%. Annually, the biggest decline was recorded in Germany where industrial production fell 6.2%.

EUR trades against major currencies
  • The euro traded in red at 118.50 against the yen.
  • The euro fell against the franc to 1.0867 levels, down 0.37%.
  • The euro rose against the pound to 0.9262 levels, the pair rose 0.03%.
  • The euro rose to 1.1183 levels against the dollar at around 14:02 CET.


Other analysis

Best Opportunities, Vision and Technical Analysis for the USD/JPY pair 17 April 2019

We offer you the analysis of the US dollar against the Japanese Yen on Wednesday, April 17, 2019 with the most important expectations for the dollar against the Japanese yen on the market. Time frame Used - four hours The USD/JPY is moving in a bullish direction in the near term. USD/JPY is still facing resistance and selling pressure around 112.10 as the USD-JPY closed yesterday's session down below 112.00…

More analysis

Best trading brokers

All Rights Reserved
Risk Disclaimer: Trading in foreign exchange market (Forex) includes the risks and the possibility of loss. That is why we are keen on providing the highest quality news and analysis concerning the different markets traded. The opinions expressed in the site indicate the opinion of the author only and not the views of the administration or the public, knowing that errors could be encountered and there is a possibility to commit them. Before starting to trade you should carefully consider your investment objectives, and review the level of experience and risk appetite. In some cases, possible high leverage can lead to loss of funds invested, so you can not invest money that you can not handle its possible loss. You should be aware of all the risks associated with foreign exchange trading and seek for advices from an independent financial advisor if you have any doubts.TradingPekk.com does not assume any responsibility after the occurrence of financial loss to the dealer and the user carries full responsibility for the losses resulting from the use of news, analysis and data on the site.