NEW YORK (dpa-AFX) – The price of the euro barely moved in late US trading on Thursday. After ups and downs throughout the day, it recently returned to the morning’s level and cost 1.1723 US dollars. The European Central Bank set the reference rate in Frankfurt in the afternoon at 1.1719 (Wednesday: 1.1722) dollars. The dollar therefore cost 0.8533 (0.8530) euros.
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According to US consumer price data, the dollar briefly weakened slightly. In the USA, inflation cooled surprisingly and noticeably in November. However, due to the lack of data collection due to the partial standstill of government business (“shutdown”), there are numerous factors of uncertainty; there is also no overall figure for inflation in October.
Although inflation is still above the US Federal Reserve’s target, interest rate cut expectations are still likely to be supported with a view to the coming year, explained analyst Ralf Runde from Landesbank Helaba.
The ECB’s key interest rate decision was also in focus that day. As was generally expected, this did not affect the interest rate. Head of the central bank Christine Lagarde also did not promise any interest rate changes. You are well positioned. “The ECB can be satisfied: inflation has been tamed again, the key interest rates are back where they are not slowing down the economy and home builders,” says Dekabank chief economist Ulrich Kater. “It could stay that way for the whole of next year, because the reasons for further interest rate cuts and for interest rate increases are pretty much in balance.”/ck/men