empty
 
 
ar
الدعم
فتح الحساب الفوري
منصة التداول
إيداع/ سحب

24.10.201817:32 Forex Analysis & Reviews: The US dollar rose sharply on the weakness of the eurozone

Long-term review

Exchange Rates 24.10.2018 analysis

On Wednesday, October 24, the US dollar index against a basket of six world currencies reached a peak in the last 9 weeks, after the euro fell amid disappointing economic data in the eurozone.

As of 15:45 London time, the US dollar index rose to the level of 96.10, adding 0.40% from the beginning of the day.

The EUR / USD rate also reached its lowest level since August 17, dropping 0.61% to 1.1402.

The euro began to fall in price after the publication of data on the growth rate of business activity in the private sector of the eurozone, which turned out to be the worst in the last 2 years. Export volumes also declined more strongly than expected, which heightened investors' concerns about the economic consequences of introducing duties and trade conflicts.

The pound sterling also remains under pressure because of investors' concerns over Brexit. Negotiations on the process of leaving the UK out of the composition have not resumed, and the strategy of British Prime Minister Theresa May has come under heavy fire from political criticism.

Roman Agafonov,
Analytical expert of InstaSpot
© 2007-2024
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.

لا تستطيع التحدث الآن؟
اطرح سؤالك في الدردشة.