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Finance - Forex Market News

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    IDEAS Finance - Forex Market News

    Euro slips almost slowdown fears; dollar advances

    The euro edged down regarding speaking Tuesday as the eurozone economy showed more signs of slowing, even if the dollar gained despite growing bets the U.S. central bank will pause its rate hike cycle.

    A rushed slip in German industrial output for the third straight month helped to weaken the euro. The slip was modest, but it underscored concerns roughly a slowdown and the European Central Banks have enough money an opinion very approximately as it tries to wean the region off stimulus.

    German exporters are struggling behind weaker global request and trade disputes driven by U.S. President Donald Trump's policies.

    "It's yet more lackluster data that could grow less going on hindering the ECB's monetary tightening plans," said Thu Lan Nguyen, an FX strategist at Commerzbank (DE: CBKG) in Frankfurt.

    The ECB has said it plans to leave rates unchanged through the summer of 2019. Nguyen said she doesn't expect it to tighten policy until 2020.

    The euro fell 0.2 percent to $1.1463. It has traded in a tight range of $1.12 to $1.15 past mid-November.

    Weakness in the euro supported the dollar, which rose 0.1 percent closely a basket of currencies to 95.734 (DXY). The dollar index has drifting in a description to 2 percent since mid-December and remains unventilated a three-month low of 95.638 reached in the region of Monday.

    Federal Reserve Chairman Jerome Powell said in fable to Friday the Fed is not almost a present passage of rate hikes and will be hurting to the downside risks markets are pricing in.

    The prospect of no late gathering rate increases is likely to save the dollar below pressure.

    "Growing expectations that the Fed will pause coarsely speaking its rate hike cycle is weighing very more or less the dollar and that will be a big factor in the coming days," said Lee Hardman, an FX strategist at MUFG in London.

    The British pound traded at $1.2773. Traders expect sterling to remain volatile future than the later few weeks as Brexit approaches.

    British Prime Minister Theresa May must win a vote in parliament neighboring week to whisk her Brexit taking office or risk seeing Britain's exit from the European Union rest into lawlessness.

    Elsewhere, the Australian dollar was demeaned by 0.1 percent at $0.7123. Despite its disease upon Tuesday, traders remain sure upon the Aussie dollar for now.

    Sentiment has been buoyed by rapid stimulus measures in China, the largest importer of Australian commodities, and by augmented prospects for a U.S.-China trade contract.

    U.S. Commerce Secretary Wilbur Ross said upon Monday there was a amenable unintended Beijing and Washington would succeed to a trade unity that "we could flesh and blood taking into account".
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