Euro/Dollar Decreases Despite Strong German and Eurozone Data
The euro continues to decline during three consecutive trading sessions. The EUR/USD pair fell by 0.35% today and is trading at 1.1929. The unemployment rate in the Eurozone has fallen to the lowest level since 2009. Eurostat data showed that the unemployment rate fell to 8.7% in November from 8.8% in October.
The economic indicators of Germany continue to improve. Industrial production recovered with a sharp increase of 3.4% in November. Germany's trade balance rose to 22.3 billion euros in December, which is the highest surplus since May 2016.
The US Federal Reserve raised the level of interest rates three times in 2017, with the support of a reliable economy of the country. Another quarter rate increase is expected in January. Now the Fed has begun to reduce its balance of 4.4 trillion dollars, which grew significantly during the financial crisis of 2008-2009.