FRANKFURT (dpa-AFX) – The euro moved little on Friday. As on the previous day, the rate of the common currency stayed in a comparatively narrow trading range. In the morning, the euro was trading at 1.1963 US dollars, almost the same rate as the previous evening. The European Central Bank (ECB) last set the reference rate on Thursday afternoon at 1.1970 (Wednesday: 1.1964) dollars.
Strong economic growth in China, the second largest economy in the world, did not create a buying mood in the financial markets that morning. The price movements were limited on the stock exchanges and on the foreign exchange market. China’s economy has largely overcome the corona crisis and started the new year with record growth. Economic output rose in the first three months by 18.3 percent compared to the first quarter of the previous year and thus more strongly than ever since the quarterly evaluation began a good 30 years ago.
In the further course of the day, hardly any impulses for trading on the foreign exchange market are expected, as only little economic data is on the program. With the data on price development in the Eurozone in the late morning there is a second estimate. An increase in inflation in the common currency area is expected. In the afternoon, data on consumer sentiment in the USA could provide more movement in the foreign exchange market./jkr/jha/