{"id":65468,"date":"2019-11-11T04:00:31","date_gmt":"2019-11-11T09:00:31","guid":{"rendered":"https:\/\/currencylive.com\/?p=65468"},"modified":"2019-11-11T03:21:35","modified_gmt":"2019-11-11T08:21:35","slug":"101458-eur-usd-euro-advancing-after-shedding-1-3-last-week","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/101458-eur-usd-euro-advancing-after-shedding-1-3-last-week\/","title":{"rendered":"EUR\/USD: Euro Advancing After Shedding 1.3% Last Week"},"content":{"rendered":"<p>Concerns over the health of the German economy and US \u2014 China trade headlines sent the euro US dollar exchange rate tumbling lower across the previous week. The pair dropped over 1.3%, closing the week at US$1.1018, its lowest level in almost a month. The pair is advancing in early trade on Monday.<\/p>\n<p><span style=\"font-weight: 400;\">Let\u2019s take a look at the factors that have been driving the pound US dollar exchange rate across the week.<\/span><\/p>\n<table>\n<tbody>\n<tr>\n<td><a href=\"https:\/\/wise.com\/?utm_source=currencylive-com&utm_medium=affiliate&utm_content=news%2Fwp_json%2Fwp%2Fv2%2Fposts%2F65468&utm_campaign=news\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-65277\" style=\"padding-top: 5px;\" src=\"https:\/\/currencylive.com\/wp-content\/uploads\/2019\/11\/transferwise-inline-banner-money-transfer.jpg\" alt=\"\" width=\"670\" height=\"125\" \/><\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Eurozone data was broadly encouraging across the previous week. However, manufacturing in the bloc remains firmly in contraction. The services index for the eurozone improved, although German\u2019s PMI remained below 50, the level which separates expansion from contraction.<\/p>\n<p>Industrial Production in Germany was notably poor. Furthermore, the European Commission slashed growth forecasts for the bloc for this year and next. The negative data overshadowed the stronger PMI\u2019s.<\/p>\n<p>With fears over the health of the German economy front and central for euro investors, all eyes will be on German GDP data later this week. The German economy contracted in the second quarter. Market participants fear that it contracted again in the third quarter. Two consecutive quarters of contraction make a technical recession.<\/p>\n<p>Should Europe\u2019s largest economy fall into recession, concerns of contagion could spread. Furthermore, investors could expect the European Central Bank to ease monetary policy further to support the economy, potentially dragging the euro lower.<\/p>\n<p>The euro has barely flinched at the Spanish election. This shows that investors are not concerned about political instability in Madrid.<\/p>\n<h3><strong>Trade Headlines Remain Key<\/strong><\/h3>\n<p>The US dollar trended higher across the previous week. Stronger than forecast US services sector data quelled concerns over the health of the US economy, pushing back Fed cut bets. The US manufacturing sector is experiencing a slump amid the ongoing US \u2014 Sino trade war. However, data is showing that the slump is not spilling over into the dominant service sector.<\/p>\n<p>US \u2014 China trade headlines also drove the US dollar higher. Whilst the headlines continue to be two steps forward one step back, overall, they were positive, sending US stock markets to all time high\u2019s. Reports indicated that the two powers are inching towards the signing off a first phase trade deal, which could include the rolling back of already implemented trade tariffs. The prospect of a deal lifted the dollar. Traded headlines will remain key again this week.<\/p>\n<p>In addition to trade, investors will be watching US inflation data and Fed Chair Powell\u2019s testimony before Congress on Wednesday and Thursday.<\/p>\n<p>&nbsp;<\/p>\n<table width=\"602\">\n<tbody>\n<tr>\n<td><strong>What do these figures mean?<\/strong><\/td>\n<\/tr>\n<tr>\n<td>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<p>For example, it could be written:<\/p>\n<p><em>1 EUR = 1.12829 USD<\/em><\/p>\n<p>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<p>Or, if you were looking at it the other way around:<\/p>\n<p><em>1 USD = 0.88789 EUR<\/em><\/p>\n<p>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>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<h6><em>Currencylive.com<\/em><em> is a news site only and not a currency trading platform.<\/em><\/h6>\n<h6><em>Currencylive.com is a site operated by TransferWise Inc. (&#8220;We&#8221;, &#8220;Us&#8221;), a Delaware Corporation. We do not guarantee that the website will operate in an uninterrupted or error-free manner or is free of viruses or other harmful components. The content on our site is provided for general information only and is not intended as an exhaustive treatment of its subject. We expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of our site, any you may not rely thereon for any purpose. You should consult with qualified professionals or specialists before taking, or refraining from, any action on the basis of the content on our site. Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Some of the content posted on this site has been commissioned by Us, but is the work of independent contractors. These contractors are not employees, workers, agents or partners of TransferWise and they do not hold themselves out as one. The information and content posted by these independent contractors have not been verified or approved by Us. The views expressed by these independent contractors on currencylive.com do not represent our views.<\/em><\/h6>\n","protected":false},"excerpt":{"rendered":"<p>Concerns over the health of the German economy and US \u2014 China trade headlines sent the euro US dollar exchange rate tumbling lower across the previous week. The pair dropped over 1.3%, closing the week at US$1.1018, its lowest level in almost a month. The pair is advancing in early trade on Monday. Let\u2019s take [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":4996,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1381],"tags":[1389,1395,1393,1408,1409,1424,1457,1415,1479,1431,1400,1397,1398],"class_list":{"0":"post-65468","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eur","8":"category-usd","9":"tag-elections","10":"tag-eur","11":"tag-euro","12":"tag-fed","13":"tag-gdp","14":"tag-german-recession","15":"tag-manufacturing","16":"tag-trade-dispute","17":"tag-trade-talks","18":"tag-trade-war","19":"tag-trump","20":"tag-us-dollar","21":"tag-usd"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>EUR\/USD: Euro Advancing After Shedding 1.3% Last Week - 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\/101458-eur-usd-euro-advancing-after-shedding-1-3-last-week\/\" \/>\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\\\/101458-eur-usd-euro-advancing-after-shedding-1-3-last-week\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101458-eur-usd-euro-advancing-after-shedding-1-3-last-week\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"EUR\\\/USD: Euro Advancing After Shedding 1.3% Last Week\",\"datePublished\":\"2019-11-11T09:00:31+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101458-eur-usd-euro-advancing-after-shedding-1-3-last-week\\\/\"},\"wordCount\":794,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101458-eur-usd-euro-advancing-after-shedding-1-3-last-week\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100707-gbp-eur-angela-merkel-resigns.jpg\",\"keywords\":[\"Elections\",\"eur\",\"euro\",\"fed\",\"gdp\",\"german recession\",\"manufacturing\",\"trade dispute\",\"trade talks\",\"trade war\",\"trump\",\"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\\\/101458-eur-usd-euro-advancing-after-shedding-1-3-last-week\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101458-eur-usd-euro-advancing-after-shedding-1-3-last-week\\\/\",\"name\":\"EUR\\\/USD: Euro Advancing After Shedding 1.3% Last Week - 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