Euro dollar exchange rate: This is why the euro is gaining slightly against the US dollar

The euro rose on Friday.

The European common currency cost 1.0987 US dollars in the afternoon. At midday the euro had fallen to $1.0936. The European Central Bank (ECB) set the reference rate at 1.0942 (Thursday: 1.0987) US dollars. The dollar therefore cost 0.9139 (0.9101) euros.


Trade EUR/CNY and other currencies with leverage via CFD (long and short)

Trade currency pairs like EUR/CNY with leverage at Plus500 and participate in rising and falling prices.

Plus500: Please note the Hints5 about this advertisement.

The dollar was weighed down somewhat in the afternoon by price data from the US, while the euro received a boost in return. In the United States, producer prices fell slightly in December compared to the previous month, while economists had expected an increase. Producer prices influence consumer prices, which the US Federal Reserve Bank determines monetary policy aligns. Consumer prices rose unexpectedly sharply in December, according to data on Thursday. There will be one on the markets Interest rate increase expected this year. However, the timing of this is considered uncertain.

In the Eurozone had ECB President Christine Lagarde announced in a television interview on Thursday evening that it would keep the key interest rate at the current level until the ECB was sure that inflation would return to the target level of 2 percent. The statements hardly moved the euro.

For other important currencies, the ECB set the reference rates for one euro at 0.85950 (0.86145) British pounds, 159.17 (159.71) Japanese yen and 0.9350 (0.9338) Swiss francs. A troy ounce of gold was trading at $2,057 in London in the afternoon. That was around $28 more than the day before.