Currencies and commodities – euros with additional losses – economy

As the Fed’s meeting approaches next week, the dollar appreciates. The dollar index, which reflects the dollar’s rate against major currencies, climbed 0.5% to 92.88 points on Thursday. In turn, the euro fell 0.6% to a three-week low at $ 1.1750. Investors are currently wondering when the Fed will stop crisis aid. A decision on the timing of a collapse in billion dollar securities purchases is expected for one of the next interest rate meetings. The dollar was supported by better than expected economic signals from the United States. There, retailers surprisingly increased sales in August despite the high number of new corona infections. It rose 0.7% from the previous month, as the Ministry of Commerce announced on Thursday. Most economists expected a decline of 0.8%. In July, sales fell 1.8% (previously: 1.1) percent. “Given the expiry of state aid payments, the growing number of new infections and the surge in inflation – all of which together are in fact confusing consumers – the increase in retail sales is surprising.” , said Bankhaus Lampe US expert Bastian Hepperle. The much-noticed Philadelphia regional central bank’s Philly-Fed economic index also rose to 30.7 points in September, when analysts expected a rise of just 18.8%.

Although oil prices declined slightly, overall they remained at a high level. In the evening, a barrel of North Sea Brent cost $ 75.29. It was 18 cents less than the day before. Oil prices are currently near their highest levels since early August. One of the reasons is the weakening of the supply.

Related Articles

Back to top button