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Forex

Euro relatively stable against the dollar before the release of eurozone statistics

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Euro against the dollar

EUR/USD exchange rate is generally stable before the release of economic statistics on the euro area, according to trading data.

The euro against the dollar is down to $1.0873 from last week’s closing level of $1.0874. The dollar-yen exchange rate, meanwhile, falls to 135.99 yen from 136.12 yen. And the dollar index (the exchange rate against a basket of currencies from six U.S. trading partners) is down 0.02%, to 102.41 points.

On Tuesday afternoon, Eurostat will release its second estimate of the eurozone economy’s first-quarter growth. It is expected to match the first estimate and show a 1.3% annualized growth.

At the same time the Center for European Economic Research (ZEW) will publish data on the index of investor confidence in the German economy. Analysts expect the index to reach minus 5.3 points in May against 4.1 points a month earlier.

At the same time investors in Asia may react to economic data on China released early Tuesday morning. The overall trend was positive, but indicators rose less than analysts had expected. For example, the country’s industrial production for April rose 5.6% year-over-year against a forecast of 10.9% growth, and retail sales rose 18.4% against a forecast of 21%.

Earlier, we reported that the dollar prepares to end the week in addition against the euro and yen.

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