FOREX TradingCharts.com

Forex News: Euro Eases Amid Risk Aversion

Euro Eases Amid Risk Aversion

08/17/2018 - 08:03:00 (RTTNews)

(RTTNews) - The euro retreated from its early highs against its key counterparts in the European session on Friday, as investors became concerned about renewed weakness in the lira and the fate of upcoming U.S.-China trade talks.

The United States has warned of more sanctions against Turkey, triggering a sell-off in Lira.

In a message on Twitter, the U.S. President Donald Trump said that Turkey had "taken advantage of the United States for many years" and that he was "cutting back on Turkey".

Meanwhile, the Wall Street Journal reported that the trade talks in Washington would take place on Aug. 21 and 22, just before the next round of levies targeting $16 billion worth of goods on both sides kick in on Aug. 23.

In economic releases, data from the European Central Bank showed that the euro area current account surplus remained unchanged in June.

The current account surplus totaled a seasonally adjusted EUR 24 billion in June, the same as seen in May.

Meanwhile, final data from Eurostat showed that Eurozone inflation accelerated for a third straight month in July, as initially estimated, to its highest level since late 2012.

The harmonized index of consumer prices rose 2.1 percent year-on-year in July, after climbing 2 percent in June. The rate came in line with the estimate published on July 31.

The latest inflation figure was the highest since December 2012.

The currency traded mixed against its major opponents in the Asian session. While it rose against the greenback and the franc, it held steady against the yen and the pound.

The euro eased to 1.1374 against the greenback, from a 3-day high of 1.1419 hit at 3:00 am ET. The next possible support for the euro is seen around the 1.11 level.

The single currency edged down to 125.67 against the yen, after rising to 126.43 at 3:00 am ET. The euro is poised to find support around the 124.00 area.

The 19-nation currency retreated to 1.1332 against the franc and 0.8953 against the pound, off its early weekly highs of 1.1367 and 0.8971, respectively. If the euro drops further, 1.12 and 0.88 are possibly seen as its next support levels against the franc and the pound, respectively.

The 19-nation currency reversed from its early high of 1.7285 against the kiwi and weakened to 1.7239. Next key support for the euro is seen around the 1.70 region.

Data from Statistics New Zealand showed that New Zealand's producer price outputs rose 0.9 percent on quarter in the second quarter of 2018.

That follows the 0.2 percent increase in the three months prior.

Looking ahead, Canada CPI for July and University of Michigan's preliminary consumer sentiment index for August are scheduled for release in the New York session.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2018 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


Dollar Soars Against British Pound After EU Leaders Refuse Brexit Deal (04 min(s), 35 sec(s) ago)
(RTTNews) - The dollar is up against all of its major rivals Friday afternoon, but its gains are m ...Full Story»

Canadian Dollar Higher After Strong Retail Sales (40 min(s), 34 sec(s) ago)
(RTTNews) - The Canadian dollar strengthened against its major counterparts in the European sessio ...Full Story»

Loonie Climbs After Canada Retail Sales, CPI (40 min(s), 35 sec(s) ago)
(RTTNews) - At 8:30 am ET Friday, Canada retail sales for July and consumer inflation for August h ...Full Story»

Loonie Mixed Ahead Of Canada Retail Sales, CPI (34 min(s), 34 sec(s) ago)
(RTTNews) - At 8:30 am ET Friday, Canada retail sales for July and consumer inflation for August a ...Full Story»

Pound Drops On EU's Rejection Of Brexit Plan (34 min(s), 34 sec(s) ago)
(RTTNews) - The pound declined against its major counterparts in the European session on Friday, a ...Full Story»

Pound Little Changed After U.K. Public Sector Finance Data (40 min(s), 34 sec(s) ago)
(RTTNews) - At 4.30 am ET Friday, the Office for National Statistics has released UK public sector ...Full Story»

Pound Slides Ahead Of U.K. Public Sector Finance Data (34 min(s), 34 sec(s) ago)
(RTTNews) - At 4.30 am ET Friday, the Office for National Statistics releases UK public sector fin ...Full Story»

Euro Little Changed Following Eurozone PMI (10 min(s), 34 sec(s) ago)
(RTTNews) - At 4.00 am ET Friday, Eurozone flash PMI results have been released. After the d ...Full Story»

Search

FOREX NEWS

Dollar Soars Against British Pound After EU Leaders Refuse Brexit Deal

09/21/2018 - 14:59 PM (RTTNews)
(RTTNews) - The dollar is up against all of its major rivals Friday afternoon, but its gains are m ...Full Story>>

Canadian Dollar Higher After Strong Retail Sales

09/21/2018 - 09:34 AM (RTTNews)
(RTTNews) - The Canadian dollar strengthened against its major counterparts in the European sessio ...Full Story>>

Loonie Climbs After Canada Retail Sales, CPI

09/21/2018 - 08:34 AM (RTTNews)
(RTTNews) - At 8:30 am ET Friday, Canada retail sales for July and consumer inflation for August h ...Full Story>>

Loonie Mixed Ahead Of Canada Retail Sales, CPI

09/21/2018 - 08:28 AM (RTTNews)
(RTTNews) - At 8:30 am ET Friday, Canada retail sales for July and consumer inflation for August a ...Full Story>>

Pound Drops On EU's Rejection Of Brexit Plan

09/21/2018 - 06:29 AM (RTTNews)
(RTTNews) - The pound declined against its major counterparts in the European session on Friday, a ...Full Story>>

Binary Options Articles Courtesy of NADEX

These pages, and all content ©TradingCharts.com Inc and other copyright holders. Permission is not granted to redistribute charts, data, news or other information found on this site, in any manner. Although it is believed that information provided is accurate, TradingCharts will not accept liability for any loss or damage that may arise from use of the content, inability to access the website, or delay or failure of receive of any information provided through this site.