The price of the euro gave in on Tuesday in the US trade course.
The community currency euro cost $ 1.0802 around an hour before the IPO on Wall Street. At times it had fallen under $ 1.08 in the morning. The European Central Bank set the reference course in the afternoon to $ 1.0825 (Monday: 1.0824). The dollar cost 0.9237 (0.9238).
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The increased IFO business climate, which added in March as expected, initially supported the euro. The expectations of companies in particular improve significantly. The constitution had changed the Bundestag and the Federal Council last week to enable billions in investments. According to the economist, this is likely to have supported the indicator.
Dekabank chief economist Ulrich Kater warns of an early euphoria: “In order for this mood to actually become a rosy picture for the German economy, the coalition negotiations now have to be agreed quickly for Germany,” says a comment. “Otherwise, an economic straw fire threatens in which the many billions that are now provided.”
In the meantime, the consumer confidence raised by the Conference Board fell much more than expected. It sank down to the end of 2021. US President Donald Trump’s erratic customs policy is growing fears about future inflation and economic development. The conference board said that the concerns about the economic development and the labor market increasingly also affected the evaluation of the personal situation. The recent optimism about future income development has also largely disappeared.
New York (dpa-Afx)