The euro continues to shine ahead as investors continue to anticipate great prospect from the coming European Central Bank announcement on their most recently announced stimulus program. The currency manages to overtake major currencies even edging higher against its regional competitor which is the pound.
On the other side of the globe, global stocks were lagging behind because of the immense pressure the ECB meeting is secreting. The program and the meeting are expected to ease the ongoing political turmoil in the U.S. and North Korea.
The euro is showing significant strength over the most anticipated European Central Bank meeting; it manages to increase by 0.31% against the famous dollar and was trading at the 1.1960 figure. On the other hand, its regional opponent, the sterling, was down by 0.2% to 1.091 against euro as investors are clearly showing love for the ECB meeting.
As a matter of fact, the euro’s current strength against pound has been tallying record high figures with multi-year highs against both giant currencies. Investors are looking for these kinds of currencies that they can use and invest in as a safe haven as the geopolitical tension between the big countries such as the United States and North Korea.
More on the Currency
The euro’s surging power had also made the inflation down, it pushed the inflation but on a level that is still low and not suitable for the bank’s expectation and target. On the bleaker side, the depleting exports in the Eurozone because of the lack of competitiveness, and this could barge the currency’s growth in one way or another.
As of current, the euro is still trading higher and is hitting levels of 1.20, and for the whole 2017, the currency manages to tally a massive 13% increase against the greenback and it still continues to bolster ahead of the ECB meeting and the ongoing geopolitical tensions.
German Industrial Sector
On the backend, the German Industrial Sector was tallying at a flat 0.0% progress rate and is trailing behind the highly anticipated 0.5% increase. This week, the industrial sector and the factory orders were swelling and dwindled down by 0.7%, and it was way behind most forecasts of an increase of 0.2%. All the troubles the Industrial Sector in Germany is posing a total of a 3-month low in total.
The lagging performance rating came to a surprised after the great performance it has in the past weeks. Also, the German economy was going strong all-throughout 2017 and having saved the Eurozone on their bullish performance.
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