The course of the euro claimed its daily profits on Monday in US trade.
Most recently, the community currency cost EUR 1,1754. In the early European business, the euro had noted under $ 1.17. The euro was supported by the prospect of falling key interest rates in the USA. The European Central Bank had set the reference course at $ 1.1728 (Friday: 1.1697). The dollar cost 0.8527 (0.8549).
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The euro will continue to be done by the prospect of a Interest rate the US Federal Reserve Fed supported in the middle of the month. “A slightly disappointing US labor market report reinforced the hopes for key interest rates,” said the Dekabank. The economic data from Germany published in the early European business were mostly disappointing. So the German exports were unexpectedly fallen in July. Exports to the USA have dropped to the lowest level since the end of 2021.
Production in the processing industry, on the other hand, rose more than expected in July. It is the first increase in production since March. Analyst Jens-Oliver Niklasch from Landesbank Baden-Württemberg referred to the weak order intake due to the aggressive customs policy of the US government. “After all, the start for the third quarter is not as bad as feared,” emphasized the expert.
In the Euro zone the assessment of financial market experts for further economic development has surprisingly deteriorated. The economic indicator raised by the analysis institute Sentix has fallen to the lowest value since April in September.
The Argentine peso has been under pressure for all important currency. Argentina’s ultra -liberal President Javier Milei had to accept a heavy flap in the Province of Buenos Aires. His party La Libertad Avanza (freedom is progressing) only came to almost 34 percent of the vote when voting, the left opposition to over 47 percent.
With its hard austerity, Milei polarizes: the economist has managed to significantly press inflation in the highly indebted country and to compensate for the state budget. However, numerous people also lost their workplace, subsidies, for example for electricity, gas and public transport, were deleted.
/LA/NAS
New York (dpa-Afx)