Arab Today, arab today euro hits its highest level in 3 weeks
Last Updated : GMT 08:53:10
Arab Today, arab today
Arab Today, arab today

Euro hits its highest level in 3 weeks

Arab Today, arab today

Arab Today, arab today Euro hits its highest level in 3 weeks

New York - Arabstoday

The euro climbed to a three-week peak against the dollar on Friday as concerns about a slowdown in the Eurozone ebbed, but the single currency could reverse gains this week as bond auctions in Spain and Italy draw scrutiny. Any sign of eroding confidence in the bonds of these peripheral countries could undermine the euro. Economic data from Germany and a meeting of European finance ministers will also be key events for the week. \"We think euro/dollar is headed lower,\" said Aroop Chatterjee, currency strategist at Barclays Capital in New York. \"European economic data continues to be lacklustre. We saw a snapback in data earlier this year, but it\'s been primarily sentiment-driven. \"The euro appears to be stuck in a trading range and our house view is that it would go gradually lower to $1.20 in 12 months,\" he added. The dollar is seen remaining supported by an improving economic landscape in the United States that contrasts starkly with European countries that are teetering on the brink of recession or are already in one. Data on sales of new US homes on Friday, for instance backed the view the country\'s housing sector is on a stable path to recovery, something that is seen as key to the health of the overall economy. Worries ease But on Friday overall, worries about faltering global growth in the Eurozone and China eased a day after hitting stocks and riskier currencies, tempering demand for safer bets such as the dollar and the yen. The euro last traded at $1.32700, up 0.6 per cent, after hitting a three-week high of $1.32940 earlier in the global session. It was also up from Thursday\'s low of $1.31334 and posted its best weekly performance since late February. A key level of resistance for the euro is $1.33, and a break of that level would likely move it up toward $1.3500. The Australian dollar, meanwhile, was up 0.9 per cent at $1.0479 after hitting a two-month low of $1.0336 the previous session, while the New Zealand dollar advanced 1.1 per cent to $0.8188. \"Today says: ‘Don\'t worry, be happy\',\" said Jonathan Lewis, chief investment officer at Samson Capital Advisors, which has assets under management of around $7 billion. \"That\'s what it means when the best performing currencies on the day are commodity and growth-oriented ones like the New Zealand and Australian dollars, and the Norwegian krone and the Japanese yen is near the back of the bus.\" Against the yen, the greenback was down 0.1 per cent at 82.441 yen, while the euro rose 0.4 per cent to 109.400 yen. The greenback has gained more than 7 per cent against the yen since the start of this year. The euro has jumped 9.8 per cent versus the Japanese currency, with gains accelerating after the Bank of Japan, in a surprise move in February, initiated more quantitative easing.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today euro hits its highest level in 3 weeks Arab Today, arab today euro hits its highest level in 3 weeks

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today euro hits its highest level in 3 weeks Arab Today, arab today euro hits its highest level in 3 weeks

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque

GMT 17:28 2017 Thursday ,18 May

Saudi stocks rise in heavy trading

GMT 21:37 2017 Wednesday ,17 May

US Stocks Close Mixed

GMT 04:58 2017 Wednesday ,17 May

Tadawul index gains 0.7%

GMT 06:20 2017 Tuesday ,16 May

Tadawul index climbs 0.6%

GMT 13:43 2017 Monday ,15 May

Oman share index declines marginally
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday