Euro Gravitating to Yearly Low | FX Research
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13 November 2024
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Euro Gravitating to Yearly Low | FX Research
Joel Kruger
LMAX Group Market Strategist
November 13, 2024
CFD, Commodities, Forex, Trading Opportunities
We’re looking at a very strong dollar on the back of the Trump trade and political turmoil out of Europe. The euro has sunk back towards the yearly low against the buck, just shy at this point.
Though dealers are reporting decent demand ahead of 105 following the collapse of the ruling coalition in Germany.
The chancellor has announced that he’ll seek a confidence vote on December 16th, with an election date set for February 23rd. Economic data out of Europe hasn’t helped the euro either today.
After the German ZEW index slumped, over in the UK, employment data proved to be a disappointment, though the pound got a little help from the higher wages component.
Looking ahead, we get Canada building permits, U.S. consumer inflation expectations, and some Fed speak.
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