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The euro falls after published robust data of the US economy

The euro falls after published robust data of the US economy


The euro fell on Friday after robust data from the US economy were published, which boosted the price of the dollar against other currencies.

The single currency was changed around 16.10 GMT to $ 1,1050, compared to $ 1,1100 in the last hours of the European trading of the foreign exchange market of the previous day.

The European Central Bank (ECB) today set the reference exchange rate of the euro at $ 1.1094.

The US economy created in November 266,000 new jobs, more than expected, and the unemployment rate fell one tenth, to 3.5%.

In addition, the consumer confidence index of the University of Michigan rose significantly because wages have been rising for some time more than the cost of living so that consumers have more disposable income, which supports private consumption, very important for The American economy.

The euro and the dollar have changed in a very narrow band for weeks, says Commerzbank (DE: CBKG ) currency analyst Antje Praefcke, who rules out that the meetings of the ECB and the Federal Reserve (Fed) next week will go to move the price of this currency pair.

Praefcke adds that what happens in the US-China trade negotiations will be crucial for the exchange rate.

In general, hope remains in the market that the US and China will reach an initial agreement and only a break in negotiations or a surprising agreement will take the euro and the dollar out of their lethargy, Praefcke says.

The fluctuation band of the euro against the dollar today ranged between 1.1040 and 1.1110 dollars.

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