{"id":100964,"date":"2020-06-09T04:00:01","date_gmt":"2020-06-09T08:00:01","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=100964"},"modified":"2020-06-09T05:23:09","modified_gmt":"2020-06-09T09:23:09","slug":"103373-eur-usd-euro-drops-after-german-exports-collapse","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/103373-eur-usd-euro-drops-after-german-exports-collapse\/","title":{"rendered":"EUR\/USD: Euro Drops After German Exports Collapse"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/eur-euro-live-exchange-rate\/\">Euro<\/a> (EUR) under pressure as German exports tumble -24% in April vs -15.6% forecast<\/strong><\/li>\n<li><strong>EZ GDP &amp; unemployment figures up next<\/strong><\/li>\n<li><strong>North \/ South Korean tensions boost safe haven flows lifting <a href=\"https:\/\/currencylive.com\/exchange-rate\/usd-us-dollar-live-exchange-rate\/\">US Dollar<\/a> (USD)<\/strong><\/li>\n<li><strong>At 08:15 UTC, <a href=\"https:\/\/currencylive.com\/exchange-rate\/eur-to-usd-exchange-rate-today\/\">Euro to US dollar<\/a> (EUR\/USD) is trading -0.25% at US$1.1266<\/strong><\/li>\n<\/ul>\n<p>The Euro is extending losses versus the US Dollar for a second straight session on Tuesday. The Euro settled on Monday -0.2% at US$1.1294.<\/p>\n<p>At 08:25 UTC, EUR\/USD is trading -0.25% at US$1.1266, easing back from multi month highs following disappointing German export data and amid rising geopolitical tensions.<\/p>\n<div class=\"su-button-center\"><a href=\"https:\/\/currencylive.com\/exchange-rate\/eur-to-usd-exchange-rate-today\/\" class=\"su-button su-button-style-flat button-internalbutton\" style=\"color:#ffffff;background-color:#f92658;border-color:#c81f47;border-radius:5px\" target=\"_self\"><span style=\"color:#ffffff;padding:0px 22px;font-size:17px;line-height:34px;border-color:#fb688b;border-radius:5px;text-shadow:none\"> Check real time EUR to USD exchange rate<\/span><\/a><\/div>\n<p>German exports plunged and imports slumped in April, posting their largest declines since 1990 as the coronavirus crisis saw demand evaporate.\u00a0 Exports dived -24% on the month, compared to expectations of -15.6%. Imports dropped -16.5%, against the -16% forecast. According to the Federal Statistics Office, the trade balance shrank to \u20ac3.2 billion.<\/p>\n<p>The data adds to the gloomy outlook for Europe\u2019s largest economy which is expected to experience its biggest economic contraction since the end of the Second World War. Economists broadly expect the road to recovery to be a long, rocky path. How quickly exporter nation Germany recovers depends greatly on how quickly its trading partners, such as China and the US recover.<\/p>\n<p>Looking ahead, investors will focus on Eurozone GDP data and unemployment figures. The GDP reading is expected to confirm -3.8% quarter on quarter contraction in the first three months of the year.<\/p>\n<p>The safe haven US Dollar has been out of demand over the past few weeks as investors remained optimistic, focusing on the reopening of economies across the globe. However, rising tension in North Korea, which has cut off all communication with South Korea has helped towards a risk reset on Tuesday.<\/p>\n<p>With no high impacting US data due for release today investors will look ahead to the Federal Reserve\u2019s monetary policy announcement tomorrow. The Fed will have a tough balancing act. On the one hand the central bank will be encouraged by the May job market surprise. However, it is unlikely to rip up its low rates for longer hymn sheet just yet. The Fed\u2019s main focus is expected to be the nurturing of the current recovery. Any signs that the Fed is considering reducing support could unnerve investors and send the US Dollar higher.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Euro (EUR) under pressure as German exports tumble -24% in April vs -15.6% forecast EZ GDP &amp; unemployment figures up next North \/ South Korean tensions boost safe haven flows lifting US Dollar (USD) At 08:15 UTC, Euro to US dollar (EUR\/USD) is trading -0.25% at US$1.1266 The Euro is extending losses versus the US [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":5152,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1381],"tags":[1395,1393,1502,1438,1409,1397,1398],"class_list":{"0":"post-100964","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eur","8":"category-usd","9":"tag-eur","10":"tag-euro","11":"tag-exports","12":"tag-federal-reserve","13":"tag-gdp","14":"tag-us-dollar","15":"tag-usd"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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