Euro Continues to Decrease, Falling Below $1.13 Line

Forex News

The single currency stays weak versus US dollar. The euro/dollar pair is trading at 1.1283, having lost another 0.09% on the day. The euro remains under increasing pressure after Italy showed signs of retracting its compromise over its controversial budget, potentially forcing the European Commission to push forward with the disciplinary procedure.

The euro was also pressured by a decrease in Germany’s consumer confidence levels for December, which showed a figure of 10.4, representing a 0.2 drop from last month’s figure of 10.6.

Today’s data showed, that Eurozone corporate lending growth in October. The European Central Bank reported, that growth in lending to non-financial businesses increased by 3.9% year-on-year in October, after hitting a post-crisis high of 4.3% in September. The growth in credit to households came in at 3.2% in October, stable from September's revised reading. Credit to the private sector rose 3% year-on-year, same as in the previous month. Monetary aggregate M3 grew 3.9% year-on-year after a 3.6% increase in September.