Euro on track for first weekly profit in three versus dollar

Economies.com
2018-12-07 18:15PM UTC

Euro rose in American trade off late November lows for the third straight session versus the greenback, following a stream of data from the euro zone and the US today. 

 

As of 05:59 GMT, EUR/USD rose 0.19% to 1.1396, with a session-high at 1.1360, and a low at 1.1360. 

 

Earlier German data showed industrial output fell 0.5%, compared to a 0.1% increase in September, while French industrial production rose 1.2%, reversing a 1.6% drop in September, and beating estimates of a 0.8% increase. 

 

French trade deficit shrank to 4.1 billion euros from 5.4 billion in September, while Italian retail sales rose 0.1%, beating estimates of a 0.2% dip. 

 

The euro zone's GDP grew 0.2% q/q in the third quarter, slowing down from 0.4% in the second, while slowing down as well to 1.6% y/y from 2.1%. 

 

US Payrolls 

 

Earlier US data showed the unemployment rate steadied at 3.7% in November as expected, the lowest since 1969. 

 

US average earnings rose 0.2% in November, missing estimates of 0.3% and matching the pace of October. 

 

The US economy added 155 thousand new jobs in November, missing estimates of 198K, and compared to October's 237K increase, revised from 250K. 

 

Wholesale inventories rose 0.8% in October, above 0.4% in September and past estimates of a 0.7% increase. 

 

Finally, the University of Michigan released its consumer sentiment survey, which came at 97.5, same as November and beating estimates of 97.5.

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