Common currency slumps on economic surge worries

Common currency slumps on economic surge worries

On Friday, the common currency tumbled approximately 0.5% following signs that economic surge could be decelerating across the European bloc.

Euro zone business surge speeded down much faster than anticipated in November, as follows from a widely-watched Purchasing Managers Index poll.

The downbeat outcomes were hastened by an everlasting US-led trade conflict and it’s going to be the ECB’s concern, which is anticipated to draw a line under the 2.6 billion euro asset buying program already in December.

Meanwhile, German private-sector growth speeded down to its lowest value for four years due to the fact that factories in the EU’s key economy churned out products at a slower tempo.

As for the euro, it went down by 0.4% hitting $1.1402 against the greenback following the polls. Versus the Swiss franc the common currency tumbled by 0.2% trading at 1.1326 francs.

Weakness in the euro backed the evergreen buck that gained 0.3% versus its key rivals, sticking with 96.706.

For the last trading sessions the evergreen buck lost ground. It’s currently rebounding from a 16-month maximum of 97.69 reached in November.

Dollar pessimists are concerned about the tempo of future interest rate lifts by the key US financial institution.

On Thursday, both the common currency and sterling rallied after the European Commission and Great Britain agreed on a draft text, which outlines how their trading relationship will work once the UK has departed from the European bloc.

The UK currency dived by 0.3% reaching $1.2838 having soared by 0.8%.

As for the Norwegian crown, it dived by 0.2% versus the greenback because an overnight sink in crude prices put pressure.

In addition to this, the Japanese yen hit 112.96 yen per dollar, nearly intact from its previous settlement. The Japanese yen has traded in an extremely narrow ban for the last four trading marathons.


Will the CPI Crash the USD?
Will the CPI Crash the USD?

 The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!

Latest news

The US Dollar Is Correcting
The US Dollar Is Correcting

Inflation in Europe was released better than the forecast. The preliminary fact was published at 4.3%. What's happening in the markets?

Bearish Signal For The USD
Bearish Signal For The USD

XAUUSD fell below 1900 for the first time since March 2023. Meanwhile, the US dollar index gives a bearish signal. Read the full report to learn more!

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

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