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The euro rises to rumors about the agreement between the US and China

The euro rises to rumors about the agreement between the US and China


The euro rose today in a negotiation in which there were rumors about the trade agreement between the US and China and in which figures from the European and American economy were published.

The single currency was changed around 16.10 GMT to $ 1,1156, compared to $ 1,1126 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 $ 1,1142.

Within hours of knowing the initial trade agreement between the US and China, the markets opted for caution against certain rumors that the US government will maintain tariffs on imported Chinese products until the elections in November and the boycott of the Huawei telecommunications company , which he considers a threat to national security.

US Treasury Secretary Steven Mnuchin threatened to increase tariffs if China fails to comply with the agreement that promises to import more US goods and respect intellectual property.

The economic data of the euro area had little impact on the foreign exchange market.

The German economy grew by only 0.6% in 2019, a year that will be better forgotten, with the lowest growth since the Eurozone sovereign debt crisis, considers the senior economist for Europe of the insurance company Allianz (DE: ALVG ), Katharina Utermoehl.

Germany avoided the recession thanks to private and public consumption and investment in construction, adds Utermoehl, who also believes that 2020 will not bring much relief.

The new Commissioner of Commerce of the European Union (EU), Phil Hogan, negotiates a trade agreement with the US in Washington.

The fluctuation band of the euro against the dollar today ranged between $ 1,1119 and $ 1,1164.

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