Forex – Dollar weakens, the Euro ignores the orders to the industry German

© Reuters. – The Dollar is a bit weakened on Thursday in early european trading, while the Euro ignores the publication of disappointing orders in industry in Germany, which bodes ill for a quick recovery of the largest economy of the euro area.

New orders to German manufacturers were down 4.2% in February, the sharpest monthly drop in two years, with the biggest fall coming from the external markets outside the euro area. Orders were also down 8.4% on the year. The indications suggest that the situation has not improved in march, as the index of purchasing managers Markit IHS for the country’s manufacturing sector has again fallen to its lowest level in seven years in march.

The new president Donald Trump must meet with the chief negotiator for the chinese Liu He later this Thursday has had little immediate effect on the currency market, which seems resigned to wait until a final agreement is reached before drawing any conclusions.

The meeting was presented as a sign that the negotiations were nearing their end, but the Wall Street Journal reported that the insistence of the United States on the maintenance of certain taxes imposed on the chinese products remained a point of major disagreement.

At 10: 00, the dollar index, which compares the greenback to a basket of six major currencies, was little changed compared with the level reached on Wednesday at 96,688. The Euro was up at 1,1240 USD, while the Pound was also up at 1,3187 USD.

Like this post? Please share to your friends:
Leave a Reply