FRANKFURT (dpa-AFX) -The euro EU0009652759 continued its moderate recovery from the previous day on Thursday morning. In early trading, the common currency cost 1.0525 US dollars, slightly more than the evening before. The European Central Bank (ECB) set the reference rate at $1.0497 on Wednesday afternoon.
Despite the slight price gains, the euro is trading at a low level. This week the price fell to its lowest level in ten months at $1.0448. The background is the strong dollar, which is benefiting from strong interest rate increases on the US capital market. However, these interest rate increases had recently run out of steam and the euro was able to stabilize.
On Thursday, market participants’ eyes will be on the appearances of numerous speakers from the central banks. In terms of economic data, the program in Europe includes, among other things, figures from German foreign trade. In the USA, the weekly government figures for the labor market are expected.
2023-10-05 22:32:11
#Foreign #exchange #Euro #remains #recovery
