{"id":83969,"date":"2019-12-20T04:00:17","date_gmt":"2019-12-20T09:00:17","guid":{"rendered":"https:\/\/currencylive.com\/?p=83969"},"modified":"2019-12-20T03:49:53","modified_gmt":"2019-12-20T08:49:53","slug":"101835-eur-usd-us-gdp-in-focus-as-dollar-brushes-off-impeachment","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/101835-eur-usd-us-gdp-in-focus-as-dollar-brushes-off-impeachment\/","title":{"rendered":"EUR\/USD: US GDP In Focus As Dollar Brushes Off Impeachment"},"content":{"rendered":"

The euro pushed tentatively higher versus the US dollar on Thursday. The euro US dollar exchange rate closed the session 0.1% higher at US$1.1122. The pair is edging lower in early trade on Friday. After two straight weeks of gains the euro US dollar is heading for a flat end to this week.<\/p>\n

The euro trended cautiously higher in the previous session amid a slight uplift in sentiment. The German Dax rallied to an all-time high reflecting the improved risk appetite. US Treasury Secretary Steve Mnuchin expressed his confidence that the US \u2014 China first phase trade deal will be signed in January. Investors had grown concerned over the lack of details on the trade deal. However, Mnuchin\u2019s comments stirred up trade optimism once again.<\/p>\n

Any gains in the euro have been capped on renewed UK no Brexit fears. Whilst the UK economy would experience the biggest hit on a no deal Brexit, eurozone economies would also be negatively impacted.<\/p>\n

The euro could be supported today as investors look ahead to German GFK consumer confidence data and eurozone consumer confidence. Analysts are expecting both data releases to show an improvement. This would support views that Europe\u2019s largest economy and, more broadly, the bloc are starting to stabilise.<\/p>\n

Dollar Shrugs Off Impeachment<\/strong><\/h3>\n

The dollar was broadly flat versus its peers in the previous session in quiet holiday trade. Investors digested Trump\u2019s impeachment along with comments by US Treasury Secretary, Steve Mnuchin, that he was confident a US – China trade deal would be signed next month.<\/p>\n

The impeachment of President Trump in the House of Representatives had little impact on the value of the dollar. Trump was impeached on charges of abuse of power and obstruction of Congress; however, he is expected to be acquitted in the Republican controlled Senate.<\/p>\n

Today investors will look towards US third quarter GDP data. Analyst are expecting the data to show that the US economy grew 2.1% in line with the previous reading.<\/p>\n

The dollar has been bolstered recently by strong US economic data which has reduced investors\u2019 expectations that the Fed will continue its rate cutting cycle in 2020. A strong reading today could lift the dollar further.<\/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

\n
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The euro pushed tentatively higher versus the US dollar on Thursday. The euro US dollar exchange rate closed the session 0.1% higher at US$1.1122. The pair is edging lower in early trade on Friday. After two straight weeks of gains the euro US dollar is heading for a flat end to this week. The euro […]<\/p>\n","protected":false},"author":163946597,"featured_media":4401,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1381],"tags":[1386,1435,1395,1393,1409,1433,1400,1397,1398],"class_list":{"0":"post-83969","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eur","8":"category-usd","9":"tag-brexit","10":"tag-consumer-confidence","11":"tag-eur","12":"tag-euro","13":"tag-gdp","14":"tag-rate-cut","15":"tag-trump","16":"tag-us-dollar","17":"tag-usd"},"acf":[],"yoast_head":"\nEUR\/USD: US GDP In Focus As Dollar Brushes Off Impeachment - 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\/101835-eur-usd-us-gdp-in-focus-as-dollar-brushes-off-impeachment\/\" \/>\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\\\/101835-eur-usd-us-gdp-in-focus-as-dollar-brushes-off-impeachment\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101835-eur-usd-us-gdp-in-focus-as-dollar-brushes-off-impeachment\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"EUR\\\/USD: US GDP In Focus As Dollar Brushes Off Impeachment\",\"datePublished\":\"2019-12-20T09:00:17+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101835-eur-usd-us-gdp-in-focus-as-dollar-brushes-off-impeachment\\\/\"},\"wordCount\":742,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101835-eur-usd-us-gdp-in-focus-as-dollar-brushes-off-impeachment\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100388-gbp-usd-trump-trade-tariff.jpg\",\"keywords\":[\"Brexit\",\"consumer confidence\",\"eur\",\"euro\",\"gdp\",\"rate cut\",\"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\\\/101835-eur-usd-us-gdp-in-focus-as-dollar-brushes-off-impeachment\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101835-eur-usd-us-gdp-in-focus-as-dollar-brushes-off-impeachment\\\/\",\"name\":\"EUR\\\/USD: US GDP In Focus As Dollar Brushes Off Impeachment - 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