Published: Tue, August 01, 2017
Markets | By Lucia Cruz

Euro slips from 2-1/2 year highs after data

Euro slips from 2-1/2 year highs after data

The dollar was set to fall 1.9 percent against the yen to mark its biggest one-month percentage decline in six months.

Looking ahead the GBP/EUR exchange rate may slide further on Tuesday with the release of the latest "flash" for the Eurozone's second quarter GDP figures, with economic growth in the bloc expected to have registered a healthy 0.6 per cent increase in the three months leading to June.

The single currency zone has now seen 17 successive quarters of growth.

The euro zone may not be growth champion in the second quarter, after the USA rebounded to an annualized 2.6 percent thanks to consumer spending and business equipment investment.

While a Purchasing Managers' Index pointed to broad-based economic growth, price pressures showed further signs of easing in July.

E-cigarettes 'likely to lead youngsters to tobacco'
To assess e-cigarette use and associated changes in population smoking cessation in the U.S., researchers analyzed data from U.S. How safe are e-cigarettes? This supports the thesis that less strict control over e-cigarettes would be positive.

Stabbing leaves 1 dead at Hamburg supermarket
Four others were injured inside the store before the suspect fled the scene and attacked a passerby, Zill said. Early reports described his weapon as a "machete", but German police said it was likely a kitchen knife.

Anthony Scaramucci goes to war with Reince Priebus over financial disclosure leak
In the biblical story referenced by Scaramucci, Cain kills Abel. It turned out the financial disclosure was publicly available.

The eurozone is still working off the effects of a crisis over high government and bank debt that forced member governments to bail out member governments Greece, Ireland, Portugal and Cyprus and Spain's banks.

"Our outlook reflects several positive factors: generally supportive fiscal policies - or expectations of them - in most developed market economies, easier financial conditions since the start of the year, positive animal spirits as indicated by consumer and business confidence data, and a rebound in global trade".

The euro EUR= has rallied more than 12 percent year to date and is holding at two-and-a-half year peaks. That's in line with the median estimate in a Bloomberg survey of economists.

European Central Bank officials have enough time to ponder economic data and policy options ahead of their planned meeting on 7th of September.

Deepening political turmoil in Washington and diminished expectations for a third rate hike by the Federal Reserve this year have pressured the dollar lower. The auto industry has rebounded, with June registrations across the wider European Union close to those of June 2007, before the global financial crisis.

Like this: