Single Currency Sank
The Euro/Dollar pair declined 0.18% to close at 1.1673. German GfK Consumer Climate reduced to 10.5. French consumer spending remained marked disappointing 0.1% and Preliminary Gross Domestic Product rose 0.2%. Today, the US features Q2 Preliminary Gross Domestic Product and Pending Home Sales. Tomorrow, we’ll get German Preliminary Consumer Price Index as well as US personal spending and jobless claims.
Recently, the common currency posted some broad gains as German Ifo Business Climate impressively grew to 103.8, recording the first improvement in 2018. However, euro isn’t expected to peak nor to be attractive to investors due to ECB’s monetary policy decisions. That is, Mario Draghi claimed interest rates will remain at low levels throughout this year and almost the entire 2019.