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  Before Fed minutes: Why the euro on Wednesday about $ 1.20 persists | News | Bit Updates
Home » bitcoin updates » Before Fed minutes: Why the euro on Wednesday about $ 1.20 persists | News

Before Fed minutes: Why the euro on Wednesday about $ 1.20 persists | News

Wednesday, January 3rd, 2018 | bitcoin updates

Around noon, the common currency cost $ 1.2011, half a cent less than in the morning. The European Central Bank (ECB) had set the reference rate at $ 1.2065 on Tuesday. The US dollar, which had been under pressure in recent days, gained some ground. In the market, this was mainly explained by a countermovement to the previous price gains. Fundamental reasons in the form of economic data were not mentioned. Only in the afternoon trade is the ISM purchasing managers index expected, which is regarded as one of the most important leading indicators of the US economy. In the evening, the US Federal Reserve also publishes its minutes on the recent interest rate meeting. Political risk factors such as the Catalonia conflict or the Italian parliamentary elections in March currently do not weigh on the euro, according to a market comment by Landesbank Hessen-Thüringen (Helaba). Rather, he is supported by expectations, according to which the ECB could not act as hesitant in their monetary policy decisions, as it seemed so far.So Austria's central bank chairman Ewald Nowotny has called for the earliest possible end of ECB bond purchases. "If the economy continues to run so well, we could phase out the 2018 bond-buying program," he told the Süddeutsche Zeitung newspaper. Recently, ECB board members Benoit Coeure and Yves Mersch also signaled the renewed expansion of bond purchases. These are currently running until at least September./bgf/jkr/jha/FRANKFURT (dpa-AFX) Image sources: isak55 / Shutterstock.com, Basileus / Shutterstock.com, Denis Vrublevski / Shutterstock.com, Konstanttin / Shutterstock.com


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