{"id":65190,"date":"2019-11-05T09:08:27","date_gmt":"2019-11-05T14:08:27","guid":{"rendered":"https:\/\/currencylive.com\/?p=65190"},"modified":"2019-11-05T09:08:27","modified_gmt":"2019-11-05T14:08:27","slug":"101411-eur-usd-euro-sub-1-11-on-trade-deal-optimism","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/101411-eur-usd-euro-sub-1-11-on-trade-deal-optimism\/","title":{"rendered":"EUR\/USD: Euro Sub $1.11 On Trade Deal Optimism"},"content":{"rendered":"

The euro US dollar exchange rate is extending losses from the previous session. The pair dropped 0.3% on Monday and it is trading a further 0.2% lower at the time of writing, below US$1.11.<\/p>\n

Movements in the euro were muted on Tuesday amid a shortage of eurozone economic data. Investors are opting to sit on the side-lines as they await more data to decide whether the Eurozone economy is finally showing signs of recovery, or whether it is just a pause in the continued downward trend.<\/p>\n

Yesterday eurozone manufacturing pmi figures beat analysts\u2019 expectations. However, they were still comfortably below 50, the level that separates expansion from contraction. So, although activity in the manufacturing sector appears to be heading in the right direction, it still shows the sector to be in a concerning state. Germany\u2019s manufacturing sector is still a notable laggard, with investors increasingly concerned that Europe\u2019s largest economy is tipping into recession.<\/p>\n

Euro investors will now look ahead to eurozone service sector and retail data. Signs that the dominant service sector is at least holding steady, if not improving could offer some support to the euro.<\/p>\n

Dollar Investors Look to Non-Manufacturing Data<\/strong><\/h3>\n

The mood towards the dollar has picked up on optimism that the US and China could be closing in on a phase one trade deal. A report from the Financial Times says that US officials are debating whether to remove some tariffs on Chinese goods as a concession to seal a partial deal, possibly as early as this month.<\/p>\n

Data has shown how the US \u2014 Sino trade dispute has negatively impacted the US manufacturing sector. Should the two sides reach a deal, the slump in the manufacturing sector could ease, benefiting the US economy and therefore the dollar. As a result, the dollar is rising on trade deal hopes.<\/p>\n

Looking ahead investors will turn their attention away from trade headlines and towards the US non-manufacturing numbers. Analysts expect activity in the service sector to pick up to a healthy 53.4 in October, up from 52.6 in September. A strong reading could lift the dollar higher as this would ease fears over the US heading for a sharp economic slowdown.<\/p>\n

 <\/p>\n\n\n\n\n
What do these figures mean?<\/strong><\/td>\n<\/tr>\n
When measuring the value of a pair of currencies, one set equals 1 unit and the other shows the current equivalent. As the market moves, the amount will vary from minute to minute.<\/p>\n

For example, it could be written:<\/p>\n

1 EUR = 1.12829 USD<\/em><\/p>\n

Here, \u20ac1 is equivalent to approximately $1.13. This specifically measures the euro\u2019s worth against the dollar. If the U.S. dollar amount increases in this pairing, it\u2019s positive for the euro.<\/p>\n

Or, if you were looking at it the other way around:<\/p>\n

1 USD = 0.88789 EUR<\/em><\/p>\n

In this example, $1 is equivalent to approximately \u20ac0.89. This measures the U.S. dollar\u2019s worth versus the euro. If the euro number gets larger, it\u2019s good news for the dollar.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

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 <\/p>\n","protected":false},"excerpt":{"rendered":"

The euro US dollar exchange rate is extending losses from the previous session. The pair dropped 0.3% on Monday and it is trading a further 0.2% lower at the time of writing, below US$1.11. Movements in the euro were muted on Tuesday amid a shortage of eurozone economic data. Investors are opting to sit on […]<\/p>\n","protected":false},"author":163946597,"featured_media":5284,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1381],"tags":[1413,1395,1393,1457,1414,1430,1415,1479,1431,1397,1398],"class_list":{"0":"post-65190","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eur","8":"category-usd","9":"tag-ecb","10":"tag-eur","11":"tag-euro","12":"tag-manufacturing","13":"tag-recession","14":"tag-retail-sales","15":"tag-trade-dispute","16":"tag-trade-talks","17":"tag-trade-war","18":"tag-us-dollar","19":"tag-usd"},"acf":[],"yoast_head":"\nEUR\/USD: Euro Sub $1.11 On Trade Deal Optimism - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/101411-eur-usd-euro-sub-1-11-on-trade-deal-optimism\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Fiona Cincotta\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101411-eur-usd-euro-sub-1-11-on-trade-deal-optimism\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101411-eur-usd-euro-sub-1-11-on-trade-deal-optimism\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"EUR\\\/USD: Euro Sub $1.11 On Trade Deal Optimism\",\"datePublished\":\"2019-11-05T14:08:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101411-eur-usd-euro-sub-1-11-on-trade-deal-optimism\\\/\"},\"wordCount\":724,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101411-eur-usd-euro-sub-1-11-on-trade-deal-optimism\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100858-gbp-eur-pound-higher-vs-euro.jpg\",\"keywords\":[\"ecb\",\"eur\",\"euro\",\"manufacturing\",\"recession\",\"retail sales\",\"trade dispute\",\"trade talks\",\"trade war\",\"us dollar\",\"usd\"],\"articleSection\":[\"EUR\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2019\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101411-eur-usd-euro-sub-1-11-on-trade-deal-optimism\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101411-eur-usd-euro-sub-1-11-on-trade-deal-optimism\\\/\",\"name\":\"EUR\\\/USD: Euro Sub $1.11 On Trade Deal Optimism - 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