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The euro rises after disappointing US economic figures in 2019

The euro rises after disappointing US economic figures

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The euro rose today after the publication of US manufacturing activity figures, which were worse than expected, on a day when pessimism increased with respect to trade negotiations.

The single currency was changed at 4:00 p.m. GMT to $ 1,1070, compared to $ 1,1015 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 $ 1.1023.

The index of purchasing managers in the US manufacturing sector stood at 48.1 points in November, according to figures from the Institute of Supply Management (ISM) for the Institute for Supply Management.

Some good economic data from China and the euro area also contributed to increasing risk tolerance and the appreciation of the single currency.

US President Donald Trump announced tariffs against Brazil and Argentina and triggered the sale of shares and dollars.

The president of the ECB, Christine Lagarde, said Monday that the accommodative monetary policy of the European issuer will continue to support the economy of the eurozone, whose growth remains “weak.”

The fluctuation band of the euro against the dollar today ranged between $ 1,1003 and $ 1,1077.

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