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Sunday, July 25, 2021

Why the euro hardly moves

The euro moved around the $ 1.21 mark in low-momentum trade on Monday.

The European common currency, the euro, cost 1.2105 US dollars in the morning. She was quoting roughly at the level of Friday evening. The European Central Bank (ECB) set the reference rate on Friday at $ 1.2125.

The forex market has taken a wait and see attitude ahead of the Fed’s meeting this Wednesday. Despite the recent significant rise in inflation, observers still largely do not expect any signals for a reduction in bond purchases that were launched to support the economy during the Corona crisis.

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“Rising price figures and an unchanged, loose monetary policy could increasingly weigh on the US dollar,” the experts at Landesbank Hessen-Thüringen (Helaba) expect. Support for the euro from the ECB is also not expected. The ECB confirmed its very loose monetary policy last week.
In the euro zone only figures for industrial production for the month of April will be published this Monday. However, the Helaba experts hardly expect any impulses here, as the data from the individual member states are already known.

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