Euro Gains Despite Worsening German Consumer Climate

Mar 27,2019 16:01   Source:Earnforex

Assorted stacks of euro coins with euro banknotesThe euro gained on most other major currencies, with the exception of the Great Britain pound, today as the market sentiment stabilized. The currency managed to keep gains even after the release of a somewhat disappointing macroeconomic report for Germany.

The German GfK Consumer Climate logged a figure of 10.4 for April, down from 10.7 for March. Analysts had expected a small increase to 10.8. It was the first decline of the indicator since the start of the year.

EUR/USD was at 1.1317 as of 10:38 GMT today after opening at 1.1313 and falling to the daily low of 1.1303. Meanwhile, EUR/GBP declined from 0.8573 to 0.8548, pulling back from the daily high of 0.8595.

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