Euro Rises As Lagarde Fails To Devalue Currency
The euro climbed against its major opponents in the European
session on Friday, as European Central Bank President Christine
Lagarde's optimistic assessment on Eurozone economy and soft
approach to the currency's strength caused a spike in the common
Lagarde said on Thursday that the ECB would "carefully" monitor
the exchange rate, but it is not a monetary policy tool.
"Our mandate is price stability, and clearly to the extent that
appreciation of the euro exercises negative pressure on prices, we
have to monitor carefully such a matter," Lagarde added.
But ECB chief economist Philip Lane and French central bank
chief Francois Villeroy de Galhau expressed dissatisfaction with
the rising rate on Friday.
Lane said that inflation remained far below the target and and
there was only partial progress in combating the negative impact of
the pandemic on projected inflation dynamics.
Data from Destatis showed that German consumer prices were
unchanged in August after a modest decline in July.
The consumer price index was unchanged on a year-on-year basis,
after a 0.1 percent fall in July. Compared to the previous month,
the index decreased 0.1 percent.
Separate data showed that the wholesale prices decreased 2.2
percent annually in August after a 2.6 percent drop in July. Prices
fell 0.4 percent from the previous month.
The euro edged up to 1.1869 against the greenback, 126.08
against the yen and 1.0783 against the franc, after falling to
1.1810, 125.31 and 1.0755, respectively in early deals. The
currency may find resistance around 1.20 against the greenback,
127.5 against the yen and 1.10 against the franc.
The euro rallied to 0.9292 against the pound, its highest level
since March 23. On the upside, 0.94 is possibly seen as the next
resistance for the euro.
Data from Office for National Statistics showed that the UK
economy expanded for the third straight month in July as lockdown
measures continued to ease.
Gross domestic product expanded 6.6 percent in July from June,
when it gained 8.7 percent. GDP was forecast to climb 6.7
The European currency touched 1.5637 against the loonie, up from
a low of 1.5568 seen at 5:00 pm ET. The euro is likely to find
resistance around the 1.58 region.
In contrast, the euro dropped to 1.7721 against the kiwi and
1.6234 against the aussie, from yesterday's closing values of
1.7757 and 1.6275, respectively. If the euro slides further, it may
find support around 1.74 against the kiwi and 1.58 against the
Looking ahead, U.S. CPI and monthly budget statement for August
are set for release in the New York session.
Euro vs NZD (FX:EURNZD)
から 11 2020 まで 12 2020
Euro vs NZD (FX:EURNZD)
から 12 2019 まで 12 2020