insisted they will not backtrack on their spending plans for next year. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible. This may be compared to a high.1470 hit at 2:05. Sentiment on the euro was also hit after data showing that German exports fell unexpectedly in in August, adding to concerns over a loss of momentum in the euro areas largest economy. Forex - Euro Hits 7-Week Lows as Italy Worries, Strong Dollar Weigh. To the upside, there is very little major resistance until the.2500 area, although upon reaching.2300 there could be some fading in the rally. After a similar tumble on Thursday, the euro was down over 7 percent since the start of the year and was on track for its biggest monthly fall since the depths of the financial crisis in early 2009. The 50-day and 200-day moving averages remain positively aligned.
Italian Prime Minister Giuseppe Conte accused EU officials of deliberately roiling financial markets with negative remarks on Italian budget, which marked.4 expected deficit for the next three years, above the 2 EU limit. Sentiment on the euro was also hit after data showing that German exports fell unexpectedly in in August, adding to concerns. Meanwhile, the International Monetary Fund cut its global growth forecast on Tuesday, warning that trade conflicts are starting to have a serious impact on the global economy.
The single currency was pressured lower amid an ongoing row between Italys populist government and the European Commission over the countrys budget plans. The IMF downgraded its outlook for the.S., China, the euro zone and the UK, saying it now expects the global economy to expand by just.7 in 20, down from.9 before. The euro retreated.1402 against the Swiss franc, not far from an 8-day low.1398 hit at 5:00. Looking ahead, Canada retail sales for August and consumer inflation for September, as well.S. The euro also hit a 16-month trough against the yen at 130.91 yen on Friday. China's GDP climbed an annual.5 percent in the third quarter of 2018- shy of estimates for.6 percent and down from.7 percent in the previous three months. The RSI and stochastics are rising although reaching overbought levels.
Forex, euro, hits 7-Week Lows as Italy Worries, Strong Dollar Weigh EUR/USD hit a new 3 - year high above.2200, forex Forex, news: Euro, weakens After EC Warns Italy Over Budget Forex, euro hits fresh 11- year lows vs dollar following ECB move Reuters