Home » Currency Note » Currency Note » Currency Note EUR » EUR: Euro struggles as optimism readings arrive

The euro fell against most major currencies yesterday, although most of the drops were marginal. Yesterday the Ifo Business Climate reading for Germany was better than expected at 86.3.

This morning markets heard that German consumer confidence rose from -41.9 to -40.2 heading into December, suggesting that consumer morale has stabilized.

The German GDP growth rate rose this morning, expanding 0.4% on quarter in Q3 2022. It’s believed household expenditure was the main driver for this increase.

Analysts will also be picking through comments from the European Central Bank interest rate setters yesterday and today for clues on future interest rates. The ECB’s next rate decision will be on 15 December – an hour after the Bank of England’s.

EUR/USD past year

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