Common currency is on defensive on political concerns

Common currency is on defensive on political concerns

On Monday, the common currency stood on the defensive after Austria's election. It was also influenced by worries over Catalonia's confrontation with Spain, although the greenback lacked momentum after soft American inflation data.

The euro went down 0.25% in early trade, hitting $1.1806, diving further from a 2 1/2-week maximum of $1.1880 reached on Thursday.

Austria's young conservative politician Sebastian Kurz is expected to become the country's next president after Sunday’s election. Kurz will probably seek a coalition with the far right because his party is currently short of a majority.

Market participants also kept an eye on Spain, exactly where Catalan leader Carles Puigdemont  is expected to finally make it clear whether he’s actually calling for Catalonia’s independence or not.

Traders weren’t excited about the greenback, as Friday's American consumer price data definitely underscored low inflation.

Similar

US Dollar index keeps edging up on American upbeat mood

On Friday, the evergreen buck kept tacking on versus other key currencies after the minutes of the Fed’s latest policy gathering along with Thursday’s upbeat data powered optimism as for the strength of the American economy…

Evergreen buck is at 1-1/2 week maximums on Fed minutes

On Thursday, the main US currency was seen at one-and-a-half week maximums versus a group of key rivals, following overnight revenues after minutes of the Fed’s January gathering underlined hopes for faster lifts in American interest rates…

Popular

EU shares mostly inch down

On Friday, EU shares mostly traded lower because markets were busy with digesting comments by ECB President Mario Drgahi…

promotions you can be interested in

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera