EUR the value against the US dollar fell the following Thursday European Central Bank (ECB) has again raised interest rates. Stock prices on US and European stock exchanges moved in different directions as a result of the differing earnings results of US companies.
The content will continue after the announcement
Advertising
On Thursday, the ECB, as expected, decided to raise the key rate by 0.75 percentage points to 2%, despite growing concerns that the euro zone is heading into a painful recession.
The ECB, like other central banks, is battling record inflation driven by rising food and especially energy prices after Russia launched a full-scale war against Ukraine. Eurozone inflation reached 9.9% in September, which is almost five times higher than the 2% target set by the ECB.
The euro fell against other major currencies, including the US dollar, which rose after US data showed the US economy grew 2.6% in the third quarter.
On Thursday, the Dow Jones Industrial Average rose 0.6% to 32,033.28, the Standard & Poor’s 500 fell 0.6% to 3,807.30 and theNasdaq Composite “decreased by 1.6% to 10,792.63 points.
London’s FTSE 100 was up 0.3% to 7,073.69 on Thursday, that of Frankfurt DAX 30 rose 0.1% to 13,211.23 points, while the Paris Stock Exchange’s CAC 40 index fell 0.5% to 6,244.03 points.
WTI crude oil rose 1.3% to $ 89.08 a barrel in e-commerce on the New York Stock Exchange on Thursday. The price of “Brent” crude on the London Stock Exchange rose 1.3% to $ 94.96 a barrel.
On Thursday the euro fell from $ 1.0087 to $ 0.9965 per euro, the British pound fell from $ 1.1621 to $ 1.1567 per pound, and the dollar fell from 146.39 against the Japanese yen to 146.27 yen per dollar. The euro fell against the British pound from 86.77 pence to 86.11 pence per euro.
