The Euro is holding steady against the US Dollar (USD) on Monday, hovering just above 1.1610 after having jumped above 1.1640 levels last week. Data from Germany showed industrial production fell 1.1% in July, against market expectations of a 0.3% increase, while June’s reading was revised down to 0% from the 0.2% rise previously estimated. Meanwhile, elevated oil prices amid ongoing tensions in Middle East are keeping DXY supported and putting pressure on euro. The dollar index is seen supported above 99 mark amid safe haven demand and boost from the US Nonfarm Payrolls (NFP) figures on Friday, which showed a 162K increase in net employment in August. Meanwhile, in the US, markets will be closed on Monday amid the Labor Day bank holiday. In the Eurozone, the European Central Banks (ECB) monetary policy decision due on Thursday.
Read more at the source
Disclaimer: The content of this post is sourced from external sites and is for informational purposes only. All rights and credits belong to the original authors and publishers.