Currencies: the Euro surprises on the upside in a mixed market
It could have gained a little more ground, given its +0.6% rebound against the yen and +0.25% against the pound, but it fell back against the Swiss franc (-0.25%) and the euro.
Counter-intuitively, the euro regained some ground (+0.3% to 1.0930) as the IFO index (the barometer of German business sentiment) disappointed: it unexpectedly fell from 87.2 to 86.4 in December.
The consensus was for an increase to 87.8.
Forex traders are expecting a quiet week, culminating in the US household income and spending figures due on Thursday (which include the Fed's closely watched 'PCE' inflation index).
Copyright (c) 2023 CercleFinance.com. All rights reserved.
Go to the original article.
Contact us to request a correction