The euro was generally stronger in quiet dealing Monday morning, as rebounding global equities fueled increased appetite for riskier currencies.
Focus remained on the European sovereign debt crisis, with German Chancellor Merkel insisting that the creation of euro zone bonds would be “exactly the wrong answer” to the debt crisis facing Europe.
Meanwhile Finance Minister Wolfgang Schaeuble shrugged off last quarter’s dismal growth figures, saying that Germany is in no danger of slipping into recession.
He said the German economy, the largest in Eurozone, is strong and is set to grow 3 percent this year.
The euro gained a bit of ground overnight versus the dollar, and was steady at $1.4425 ahead of the opening bell on Wall Street. The pair has been locked in a tight trading range near this mark for the past few months.
U.S. economic conditions improved slightly in July, as industrial production gathered steam, according to report Monday from the Federal Reserve Bank of Chicago.
The Chicago Fed’s National Activity Index narrowed to negative 0.06 in July, following a revised negative 0.38 in June.
The euro improved to Y110.80 versus the yen, as Japanese officials continued to signal they are prepared to intervene again to weaken the surging yen.
The single currency inched higher to GBP 0.8750 from 0.87 versus the sterling, paring last week’s losses.
The euro was stable versus the Swiss franc, improving to CHF 1.1350 from 1.1275. The pair has seen little movement over the past few sessions, with the euro staying away from this month’s record low of 1.0067.
After a volatile few weeks in the markets, activity may be subdued for the next few days, as traders brace for a closely watched Federal Reserve symposium at Jackson Hole.
I could not resist commenting. Exceptionally well
written!
Hi, after reading this amazing article i am also glad to share my experience here with mates.
Excellent website. Lots of useful information here.
I am sending it to a few buddies ans additionally sharing in delicious.
And of course, thank you on your sweat!
I’m not sure where you are getting your info,
but great topic. I needs to spend some time learning more or understanding more.
Thanks for fantastic info I was looking for this information for my mission.
When you’re done, talk to Fleetwood Morgan outside.
Also, take a look at the top music apps for i – Phone.
You can use this link to visit JW Pepper’s website.
Hey! I know this is kind of off topic but I was wondering if you
knew where I could locate a captcha plugin for my comment form?
I’m using the same blog platform as yours and I’m having difficulty
finding one? Thanks a lot!
I read this piece of writing completely concerning the comparison of
newest and preceding technologies, it’s awesome article.
Very efficiently written information. It will be valuable to anyone who utilizes
it, including myself. Keep up the good work –
i will definitely read more posts.
Do you have any video of that? I’d want to find out more details.
Hey! Someone in my Myspace group shared this site with
us so I came to look it over. I’m definitely enjoying the information. I’m
bookmarking and will be tweeting this to my followers!
Excellent blog and fantastic style and design.