3-4 minutes - Source: CNBC
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The German CPI print this morning was a little bit on the disappointing side, said Bipan Rai, North American head of FX strategy at CIBC Capital Markets in Toronto.
Germany’s leading economic institutes have also revised down their growth forecast for Europe’s biggest economy for this year, two sources with knowledge of their decision told Reuters on Monday.
The revisions, which feed into the government’s own output projections, reflect growing concerns that a slowdown in Germany driven by a recession in the export-dependent manufacturing sector could hamper the broader euro zone economy. Demand for dollars heading into the last quarter of the year is also boosting the greenback.
In Q4 we tend to see strong seasonal demand for the U.S.
The euro was last down 0.37% at $1.0898, after earlier falling to $1.0883, the lowest since May 2017. Investors are also focused on the U
President Donald Trump’s administration is considering
Washington and China are preparing for another round of trade talks scheduled for Oct. 10 and 11. Uncertainty around the outcome of an impeachment inquiry into Trump may also provide safe-haven demand for the greenback.
Trump on Monday escalated his attacks against the lawmaker leading the impeachment inquiry against him, suggesting that Representative Adam Schiff be arrested for “treason.”
New Zealand’s dollar dropped as low as $0.6247, its weakest since 2015, after a survey showed business sentiment weakening to an 11-1/2 year low in September, strengthening the case for a reduction in interest rates.