The euro extends losses below 1.1050 amid a downgrade to the German 2019 GDP growth forecast. Further, broad-based US dollar strength on trade optimism also added to the downside pressure.
The single currency lacked any firm directional bias on Tuesday and seesawed between tepid gains/minor losses, well within the previous session's broader trading range. The shared currency remained supported by the fact that the German government is considering fiscal stimulus to boost the economy without breaching national spending rule.
However, speculations over additional monetary easing by the European Central Bank (ECB) held investors from placing any aggressive bullish bets.
Meanwhile, the recent optimism over the resumption of the US-China trade talks continued driving the U.S. Treasury bond yields higher and provided a minor lift to the U.S. Dollar, which further collaborated towards capping the occasional bullish attempts.
19 Sep 2019 06:51 PM
The Indian rupee fell against the dollar following an uptick in crude oil prices amid reports that Saudi Arabia had sought crude supply from
19 Sep 2019 04:51 PM
The Bank of England said Brexit uncertainty was causing slack to re-emerge in Britain's economy and damaging productivity, and a failure to reach a transition deal by Oct. 31 could lead to further weakness.
19 Sep 2019 04:18 PM
Indian equity indices closed over 1% lower on Thursday, with financial and metal stocks falling the most, as markets remained wary of government's measures to revive slowing economic growth.
19 Sep 2019 04:10 PM
The euro is trading $1.1065, up from the lows it fell to on Wednesday after the Fed cut rates but signaled no new moves are imminent. Markets are digesting the decision and eyeing several US figures.
19 Sep 2019 03:54 PM
British retail sales unexpectedly fell in August after shoppers bought less online than the month before, when an annual promotion by Amazon appeared to have encouraged them to splash out, official figures showed on Thursday.
19 Sep 2019 02:58 PM
The British pound steadied on Thursday as traders waited the Bank of England monetary policy meeting due later.