Single Currency Recovers

Forex News

The single currency ended a streak of declines and rose 0.47% to trade at 1.1993. French Industrial Production fell 0.5%. Today, the US will release Import Prices. Tomorrow, the Eurozone will announce Industrial Production and the European Central Bank will issue the protocol of its December meeting.

The Eurozone unemployment hit 8-year minimum of 8.7 in November. Retail Sales grew 1.5% last month. German Industrial Production increased 3.4%. Trade surplus expanded to the yearly maximum of 22.3B euros. As we may judge, the economy in the bloc remains firm.

The trimming of Fed balance sheet is beginning this month. A Fed Chair to be Jerome Powell said the sheet will be reduced to some 2.4T-2.9T dollars. The exact number hasn’t been announced, but members will make their assumptions, relying on economic indicators.