Euro is trading around $1.1200. The euro is ignoring a fall of 1.5% in German industrial production, worse than expected. The US-Sino trade war is pushing U.S. yields lower, weighing on the dollar.
German industrial output has dropped by 1.5% in June and 5.2% year on year – significantly worse than expected. The euro zone's locomotive is showing another sign of derailment just one day after factory orders beat expectations. The fresh data has been weighing on the common currency.
The single currency was previously supported by another intensification in the US-Sino trade war. Beijing has fixed the yuan at a lower value – with USD/CNY just below 7.00 – keeping up the tensions in the trade wars. While China is wary of a rapid fall in the exchange rate – a move that could trigger massive capital outflows – it seems keen to retaliate against the upcoming US tariffs.
16 Aug 2019 05:42 PM
The Indian rupee fell for a sixth week against the dollar, its biggest losing streak since May last year, as trade tensions and global growth
16 Aug 2019 03:41 PM
The yen hit session lows versus the dollar near 106.50 levels, as the recovery in the risk sentiment gathered steam, as reflected by the extension of the relief rally in the Treasury yields and S&P 500 futures.
16 Aug 2019 03:37 PM
The pound gained for a second consecutive day on Friday after a stream of resilient economic data this week calmed sentiment on the health of the UK economy and as opposition parties launched plans to block a no-deal Brexit.
16 Aug 2019 03:33 PM
The euro fell to a two-week low on Friday against the dollar, which extended the gains it made the day before after U.S. retail sales data came out better than expected .
16 Aug 2019 02:57 PM
Indian equity indices slipped on Friday as the local markets caught up with a broader selloff in the previous day after fears of a recession in the United States stoked worries about global growth.
16 Aug 2019 02:18 PM
China's yuan eased on Friday, pressured by a stronger dollar and trade worries after Beijing pledged to retaliate for the latest U.S. tariffs. The dollar firmed