EURO SLIPS TO TWO MONTH LOW AGAINST US DOLLAR

Published on Oct 15, 2024 15:37

Euro stayed slippery against the US dollar today, witnessing sustained losses as markets continued to track economic cues and global geopolitical situation. Germany`s wholesale prices continued to decline in September, recording the steepest drop in five months, data from Destatis revealed on Tuesday. Wholesale prices decreased 1.6 percent year-on-year in September, following the 1.1 percent drop in August. Wholesale prices have been falling since May 2023. EUR/USD pair currently trades around 1.0940, up marginally on the day after testing two month low of 1.0910 in intraday moves. Euro has been hurt by concerns about French government finances and Germany�s lax economy. Sentiment is cautious for the Euro ahead of the earnings from some of Europe�s largest companies.