Euro is mostly lower today, falling against many of its major counterparts after the release of factory output data. The US dollar is one of the few currencies that the euro is seeing gains against today.
Eurozone factory output data was released today and it was a little disappointing. Many PMIs across the eurozone performed negatively, weighing on the euro in early trading.
The 19-nation currency is mostly lower, dropping against its major counterparts. The only currency that the euro isn’t struggling against right now is the US dollar. The news that the German labor market is doing better than expected is helping the euro against the greenback, even though it hasn’t helped the euro against the yen or the pound.
There are expectations that the ECB will ease monetary policy again in March, and that might lead to a weaker euro in relation to the greenback. For now, though, the US dollar losing ground against most major currencies, including the euro. Euro weakness is expected for later in the year, against all currencies.
At 14:59 GMT EUR/USD is up to 1.1001 from the open at 1.0913. EUR/GBP is lower, dropping to 0.7557 from the open at 0.7571. EUR/JPY is also lower, falling to 130.5920 from the open at 130.9480.
If you have any questions, comments or opinions regarding the Euro,
feel free to post them using the commentary form below.