EUR has backed down against the international currencies


On Friday EUR has backed down in the Europe market against the international currencies, continue its losses for the second day respectively against the USD, in a longest losses weekly chain since 2016, under the pressure of increasing the fears about deepening the monetary policy gap between Europe and the US, to continue tightening the American monetary policy and increasing the interest prices for the third time during this year.

 

EURUSD has backed down by 0.2% till 6:35 GMT, to trade at 1.1690$, and the opening price of today’s trading at 1.1710$, and record the highest price 1.1714$, and the lowest price since 17 of the last August 1.1685$.

 

EUR has ended yesterday trading with a decreasing by 0.4% against the USD, in a first loss during three days, because of the acceleration in purchasing the USD again against the international currencies, especially against the low-profit currencies.

 

During this week EUR has losses 1.1% against USD until now, and it’s about to incur the fourth weekly losses respectively, in a longest weekly losses chain since May 2016, and increasing the fears about deepening the monetary policy gap between Europe and the US, for continue tightening the American monetary policy and increasing the interest prices for the third time during this year, and the probability of taking a wide procedures to tightening the monetary policy in eurozone has backed down during the Central Bank meeting in this month.

 

The probability of increasing the American interest prices in December has jumped yesterday from 70% to 75%, after the economic data in the US comes with the best experts expectation about unemployment support requirements, trade balance and factory requirements, added to the remarks of some American monetary policymakers.

 

The federal reserve member John Williams said that the moderate economic growth and inflation will allow the Central Bank to continue increasing the interest prices, and “the federal reserve president in Philadelphia” Patrik Harker said that he is with increasing interest prices in December, and increase it three times in the next year.

And in Europe the probability about taking a widely procedures to tightening the monetary policy by the Central Bank during its meeting this month, especially after the Bank governor Mario Draghi has warned during his witness in front of the Europe parliament about not rush to tightening the monetary policy in eurozone, and make sure about not delay the economic recovery path by a rush monetary decision, and pointed about not barring the cost of any hurry steps.