Currency: the euro continues to appreciate

The euro was priced higher again around midday on Thursday in response to softly received inflation data from the United States for March, which was released on Wednesday.

“With the minutes of the last Federal Reserve meeting, there are fewer interest rate issues,” currency trader Stephane van der Meer of forex broker Ebury told ABM Financial News on Thursday. “The Euro previously hit an interim high of $1.1033 and this now appears to be the first hurdle of resistance for the European currency. If this breakout occurs, we believe the next resistance will be around $1.11 “, said the Ebury trader on Thursday. .

Wednesday’s Federal Reserve minutes showed there is strong belief in a pause in interest rate hikes.

Several officials said they had considered whether a break would be appropriate. They said they were convinced that the [nood]the actions of the Fed and government agencies have helped calm and mitigate short-term risks.

Fed officials were deeply concerned about the impact of the banking crisis on the economy at the last policy meeting in late March.

After the March 21-22 meeting, the US Federal Reserve raised interest rates by 25 basis points, pushing the federal funds rate into a range of 4.75-5.00%. The vote was unanimous. It was the ninth consecutive time that the US central bank raised interest rates.

German inflation rose from 8.7 in January and February to 7.4% in March on an annual basis, in line with an earlier estimate, he revealed this morning. On a monthly basis, prices rose 0.8%, also in line with an earlier estimate.

Eurozone industrial production was 1.5% higher on a lunar basis in February than the previous month. The monthly increase was 0.6 percent. In January, production increased by 0.7% on a monthly basis.

In the United States, producer prices and weekly aid requests are the order of the day today. A flat trend is expected for producer prices on a monthly basis, for aid applications a number of 235,000 against 228,000 a week earlier when a new calculation method was applied.

The International Monetary Fund is also organizing numerous meetings on Thursday in the presence of the President of the Canadian Central Bank, Tiff Macklem.

US Treasury Secretary Janet Yellen will also meet with five central bankers from Canada, Australia, New Zealand and the UK.

The euro was up 0.2% on Thursday at $1.1016. The European currency was stable at 0.8800 pounds sterling. The pound rose 0.3% to $1.2513.