🔮 Better than the Oracle? Our Fair Value found this +42% bagger 5 months before Buffett bought itRead More

Forex - Euro pushes higher as dollar slips ahead of U.S. data

Published 13/05/2015, 07:49
© Reuters.  Euro moves higher as dollar dips ahead of U.S. data
EUR/USD
-
USD/JPY
-
USD/CHF
-
DX
-
DE10YT=RR
-
US10YT=X
-

Investing.com - The euro pushed higher against the dollar on Wednesday supported by increases in euro zone bond yields and upbeat euro zone data, while the dollar slipped lower ahead of U.S. economic reports later in the day.

EUR/USD rose 0.37% to 1.1253, still below the two-month high of 1.1391set last Thursday.

The single currency remained supported following a fresh selloff in global bond markets on Tuesday. German 10-year bund yields surged, narrowing the gap with their U.S. counterparts.

German bund yields act as benchmarks for European financial markets and higher yields push the euro higher against the dollar. Yields rise as prices fall.

The single currency also received a boost after data showed that the French economy grew 0.6% in the first quarter, the fastest rate of growth in two years.

The euro zone was to release data on first quarter growth later Wednesday.

The dollar weakened against the other major currencies ahead of U.S. data on retail sales later in the day, after recent economic reports pointed to weakness in first quarter growth.

USD/JPY was steady at 119.89, while USD/CHF was down 0.36% to 0.9259.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.27% to 94.45, holding above last week’s two-month trough of 93.96.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.