Euro price falls after strong US data – francs are also down

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The euro’s price fell against the US dollar on Friday, as did the Swiss franc. Better than expected economic data from the USA pushed the euro’s course in the afternoon business down to a daily low of 1.1617 US dollars. In comparison, the euro was recently traded slightly higher in New York at $ 1.1663. The European Central Bank (ECB) had set the reference rate at 1.1669 (Thursday: 1.1699) dollars.

For the franc, the dollar climbed above the threshold of 0.99 at times. Currently he is still around at 0.9889 francs. The euro has meanwhile set above 1.15 and costs 1.1534 francs.

In May, the number of employees in the United States had surged surprisingly high. The unemployment rate fell to its lowest level since the beginning of the millennium. “Partylaune on the job market,” commented expert Christiane von Berg of the BayernLB the data.

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JPMorgan boss: There is serious competition for the reserve currency dollar

usd vs yuanThe US dollar is the global reserve currency. But in a few years another currency could become a serious competitor.

In 20 to 30 years, the yuan will be comparable to the US dollar , said JPMorgan CEO Jamie Dimon to “Bloomberg”. Previously, China has yet to tackle a long list of financial reforms, after all, no comparison is possible as long as the Chinese currency is not freely exchangeable.
Still a long way

On 1 October 2016, the International Monetary Fund (IMF) added the Chinese renminbi (yuan) as the fifth currency – alongside the euro , US dollar, pound and yen – to the world reserve currencies. This decision reflects the importance of China, after all, the world’s second largest economy, and represents a huge gain in prestige.

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Gold: US economic indicators no effect

gold barFollowing the presentation of mixed US economic data, the gold price reacted relatively “coolly”.

Already in the morning turned the gold price after a stable start back into the loss zone and continues to labor on a bottoming in the range of $ 1,285. In the weekly initial claims for US unemployment assistance, the number of 222,000 was slightly higher than expected. On the other hand, the economic outlook for the Philadelphia Fed saw a positive surprise. Instead of a forecast decline from 23.2 to 21.0 meters, a value of 34.4 points was reported. As both indicators did not show a consistent trend, the gold price reaction was relatively moderate.

On Thursday afternoon, the gold price presented itself with yielding prices. Until around 3:00 pm (CEST), the most actively traded futures contractedGold (June) at $ 2.50 to $ 1,289.00 a troy ounce.
Crude oil: Brent “cracks” $ 80 mark

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Why the euro hardly moves to the franc

euro

The euro rose on Monday after comments by French central bank chief Francois Villeroy de Galhau and has gone towards 1.20 US dollars.

In the morning trade, the common currency cost up to $ 1,1990. At noon the price is $ 1.1982.

Compared with the Swiss franc, the euro shows little movement and at 1.1962 francs it is quoted at about the same level as in the morning. The dollar / franc exchange rate is again below parity at 0.9882 francs, after having been a little above in the course of the day so far.

The euro reacted with gains after France’s central bank chief Villeroy de Galhau commented on the ECB’s monetary policy stance. At an event in Paris, he said that a first rate hike in the euro area would probably take place a few quarters, but not years, after the end of ECB asset purchases. The latter is currently expected towards the end of the year.

Accordingly, the ECB would probably start raising interest rates over the coming year, which also reflects current market expectations. The euro nevertheless reacted with moderate gains. In addition, Villeroy de Galhau made it clear that the ECB would not adapt its target tightening course to individual countries with budgetary problems.

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