The euro rose on Thursday.
The European Community Currency Euro was most recently traded in the New York business at $ 1.1369. In the early European trade, the euro had noted a little lower. The European Central Bank (ECB) had set the reference course to $ 1,1376 (Wednesday: 1.1415), the dollar cost 0.8790 (0.8760).
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The better than expected atmosphere in the German economy supported the euro something. The IFO business climate had risen slightly in April. However, economists had expected a decline. But the economic outlook remains cloudy. “For the greatest economic risk, any US criminal tariffs developed over European imports,” commented Thomas Gitzel, chief economist at VP Bank.
The topic of tariffs should continue to determine what is happening on the financial markets. “President Trump’s statements that will apply lower tariffs against China in two to three weeks, and a plan to spare car manufacturers from some of the tariffs, stir up the view that the parting of the customs shaft has been passed,” write experts from the decabank. “However, a settlement of the conflict with China appears unrealistic for the foreseeable future.” On Thursday, Trump insisted after a Dementi from Beijing that both sides negotiate.
The tariffs and their negative consequences for the US economy are concerned with the US Federal Reserve. Fed members brought interest reductions into play on Thursday. For example, director Christopher Waller said that he would support them if there is a strong increase in unemployment in the face of aggressive tariffs. The President of the Regional Fed in Cleveland, Beth Hammack, named June as a possible time.
New York (dpa-Afx)