The euro fell on the US retail sales figures

The euro fell on the US retail sales figures
This content was published on Sep 16, 2021 – 15:08

Frankfurt (Germany), September 16 (EFE). – The euro fell to $1.1750 on Thursday, the lowest level in three weeks, after US retail sales numbers, which were better than expected.

The euro was changing around 3:00 PM GMT at $1.1763, compared to $1.1817 in the last hours of European currency trading the day before.

The European Central Bank (ECB) has set the standard exchange rate for the euro at $1.1763.

The weekly number of applications for unemployment benefits in the United States rose to 332 thousand last week, compared to 312 thousand in the previous week.

But US retail sales rose 0.7% in August from the previous month, although some analysts had expected a decline, and 15.1% year-on-year because they fell so much a year ago due to the pandemic.

The decline in retail sales in July was revised from 1.1 to 1.8%.

In addition, economic activity in the Philadelphia region improved significantly in September and showed strong growth.

These numbers show an improvement in the US economy, while inflation is slowing.

In general, this situation improves the mood in the markets and reduces the purchases of dollars that are bought more in times of uncertainty because it is considered a safe investment.

But the 10-year US Treasury yield rising to 1.35% could also contribute to a stronger dollar.

European Central Bank President Christine Lagarde said on Thursday that the “economy is clearly recovering in the eurozone”, which has come off the brink, but cautioned that it is not out of danger.

The single currency was trading in a fluctuating range between $1.1750 and $1.1821. EFE

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