FOREX TradingCharts.com

Forex News: Euro Strengthens Amid Risk Appetite

Euro Strengthens Amid Risk Appetite

03/11/2019 - 07:09:00 (RTTNews)

(RTTNews) - The euro climbed against its major counterparts in the European session on Monday, as European shares rose after media reports suggesting merger talks of Commerzbank with rival Commerzbank helped investors shrug off global growth worries.

Traders also reacted positively to comments from Fed Chair Jerome Powell that interest rates are currently "appropriate" and "roughly neutral.

After Prime Minister Theresa May failed to secure significant concessions from the European Union in the latest round of talks, and with just two cabinet ministers backing her, she is facing increasing pressure to resign, the Telegraph reported.

It is believed that Tuesday's vote on her Brexit deal could result in an even worse humiliation.

Preliminary data from the Federal Statistical Office showed that Germany's industrial production unexpectedly decreased in January and exports were unchanged, defying forecasts for a fall.

Industrial production decreased 0.8 percent month-on-month in January, while economists had predicted a 0.5 percent gain.

December's outcome was revised from a 0.4 percent decline to a 0.8 percent gain.

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

The euro strengthened to a 4-day high of 1.1258 against the greenback, from a low of 1.1223 hit at 8:30 pm ET. The euro is seen finding resistance around the 1.14 level.

Having fallen to 124.48 against the yen at 8:45 pm ET, the euro reversed direction and appreciated to a 4-day high of 125.20. If the euro extends rise, 126.00 is likely seen as its next resistance level.

Data from the Bank of Japan showed that Japan M2 money stock rose 2.4 percent on year in February - coming in at 1,010.1 trillion yen.

That was in line with expectations and up from the downwardly revised 2.3 percent in January.

The European currency firmed to a 2-week high of 0.8676 against the pound and held steady thereafter. The next key resistance level for the euro is seen around the 0.88 level.

The euro that ended last week's deals at 1.1320 against the Swiss franc climbed to a 4-day high of 1.1345. The euro is likely to challenge resistance around the 1.16 area.

The euro edged up to 1.5102 against the loonie, from Friday's closing value of 1.5071. The euro is poised to challenge resistance around the 1.51 area.

Looking ahead, U.S. retail sales for January and business inventories for December are due in the New York session.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2019 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


Pound Climbs Amid Reports Of Another Vote On Brexit Deal (11 hr(s), 15 min(s), 33 sec(s) ago)
(RTTNews) - The pound strengthened against its major counterparts in the European session on Monda ...Full Story»

Euro Up As German Ifo Business Morale Improves For First Time In 7 Months (14 hr(s), 36 min(s), 33 sec(s) ago)
(RTTNews) - The euro climbed against its most major counterparts in the European session on Monday ...Full Story»

Euro Ticks Up Following German Ifo Business Sentiment Index (15 hr(s), 57 min(s), 32 sec(s) ago)
(RTTNews) - After the release of German Ifo business sentiment index for March at 5:00 am ET Monda ...Full Story»

Euro Mixed Ahead Of German Ifo Business Sentiment Index (16 hr(s), 03 min(s), 32 sec(s) ago)
(RTTNews) - German Ifo business sentiment index for March is due at 5:00 am ET Monday. Ahead of th ...Full Story»

Australian Dollar Strengthens Against Most Majors (16 hr(s), 33 min(s), 33 sec(s) ago)
(RTTNews) - The Australian dollar climbed against its most major counterparts in early European de ...Full Story»

Canadian Dollar Slides After Weak Retail Sales Data (10 hr(s), 36 min(s), 33 sec(s) ago)
(RTTNews) - The Canadian dollar slipped against its major counterparts in the European session on ...Full Story»

Pound Strengthens On Extension To Brexit (12 hr(s), 0 min(s),33 sec(s) ago)
(RTTNews) - The pound was higher against its key counterparts in the European session on Friday, a ...Full Story»

Loonie Declines Following Canada Retail Sales, CPI (12 hr(s), 27 min(s), 33 sec(s) ago)
(RTTNews) - Canada retail sales for January and consumer inflation for February have been released ...Full Story»

Search

FOREX NEWS

Pound Climbs Amid Reports Of Another Vote On Brexit Deal

03/25/2019 - 09:47 AM (RTTNews)
(RTTNews) - The pound strengthened against its major counterparts in the European session on Monda ...Full Story>>

Euro Up As German Ifo Business Morale Improves For First Time In 7 Months

03/25/2019 - 06:25 AM (RTTNews)
(RTTNews) - The euro climbed against its most major counterparts in the European session on Monday ...Full Story>>

Euro Ticks Up Following German Ifo Business Sentiment Index

03/25/2019 - 05:04 AM (RTTNews)
(RTTNews) - After the release of German Ifo business sentiment index for March at 5:00 am ET Monda ...Full Story>>

Euro Mixed Ahead Of German Ifo Business Sentiment Index

03/25/2019 - 04:58 AM (RTTNews)
(RTTNews) - German Ifo business sentiment index for March is due at 5:00 am ET Monday. Ahead of th ...Full Story>>

Australian Dollar Strengthens Against Most Majors

03/25/2019 - 04:27 AM (RTTNews)
(RTTNews) - The Australian dollar climbed against its most major counterparts in early European de ...Full Story>>
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.