European Session – Euro above 1.35 while pound struggles
November 18, 2013 1:43 pm
The euro managed to post moderate gains against the dollar during the European session, rising 0.13% to trade at 1.3509.
The euro also climbed against the Japanese yen, rising by 0.21% to trade at 135.19. Currencies that can be described as safe havens such as the yen, found themselves under pressure as the MSCI Wold index, a global benchmark of equity performance, traded at its highest since December 2007.
The German Dax index hit a new all-time high.
There was little important fundamental news for traders to react to. Eurostat announced that the Eurozone remained in a current account surplus for September of about 13.7 billion euros, on the back of a trade surplus of a similar magnitude.
Tuesday will see the release of the German ZEW Investor Sentiment survey.
Sterling lost 0.17% against the greenback to trade at 1.6103. Trading also lost ground against the euro, as the euro rose 0.31% to trade at 0.8388.
During the US session, the market was expecting the release of the National Association of Homebuilders index for November, which is an indicator of housing construction activity in the United States.
The euro managed to post moderate gains against the dollar during the European session, rising 0.13% to trade at 1.3509.
The euro also climbed against the Japanese yen, rising by 0.21% to trade at 135.19. Currencies that can be described as safe havens such as the yen, found themselves under pressure as the MSCI Wold index, a global benchmark of equity performance, traded at its highest since December 2007.
The German Dax index hit a new all-time high.
There was little important fundamental news for traders to react to. Eurostat announced that the Eurozone remained in a current account surplus for September of about 13.7 billion euros, on the back of a trade surplus of a similar magnitude.
Tuesday will see the release of the German ZEW Investor Sentiment survey.
Sterling lost 0.17% against the greenback to trade at 1.6103. Trading also lost ground against the euro, as the euro rose 0.31% to trade at 0.8388.
During the US session, the market was expecting the release of the National Association of Homebuilders index for November, which is an indicator of housing construction activity in the United States.
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