FRANKFURT (dpa-AFX) – The euro moved little on Monday. In midday trading, the common currency cost 1.0871 dollars, about the same as before the weekend. The European Central Bank (ECB) set the reference rate at $1.0875 on Friday afternoon.
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The foreign exchange market lacked clear impulses. The economic data published this morning from the Eurozone confirmed the picture of a weakening economy. Economic sentiment in the euro area improved in December from a low level. However, the economic indicator collected by the analysis institute Sentix recovered less than expected.
Sentix does not expect a trend reversal for the better. The situation in Germany is assessed as particularly bleak. In addition, exports in Germany fell in October both compared to the previous month and the previous year, as data from the Federal Statistical Office showed.
In the afternoon the ECB President will be Christine Lagarde give a speech in Paris. In the USA, the data on new industrial orders for the month of October is on the calendar./jsl/bgf/jha/