Euro slips on weak economic growth, yen stable despite weak Japan GDP

17.02.2020 - Korneychuk Evgeniya
Euro slips on weak economic growth, yen stable despite weak Japan GDP

The euro slipped on Monday as Europe’s economic growth weakened amid concerns raised by financial markets and policymakers on the coronavirus outbreak in China.

The euro closed at $1.0817 on Friday, hitting a 33-month low. It went up $1.08385 on Monday’s early Asian trade.

The German economy was stable in the fourth quarter due to weak private consumption and state spending.

Germany posted zero growth from the previous quarter. The GDP grew 0.1% quarter-on-quarter in Q4, the weakest since 2014.

Market participants expect higher growth in the U.S. despite data showing uncertainty.

U.S. core retail sales fell 0.3% from expectation while December growth was recalculated to 0.2%, from the initial 0.5% report.

Industrial production dropped by 0.3%. The dollar index last stood at 99.131.

Japan’s economic growth shows to be at risk due, as the GDP report fell below analyst forecasts. Tokyo shares were hit while the Yen remained steady.

Japan’s economy fell 1.6% last year due to a sales tax hike. The yen last stood at 109.81 against the dollar.

The Australian dollar was up $0.67155. The yuan was up 6.9857 against the dollar in offshore trade.

Hubei Province in China reported 1,933 new cases, bringing the number of total confirmed cases to 58,000. The death toll stands at 1,770.

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from umarkets.ai or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue
×

Help with deposit?