After the losses on Friday, the euro recovered somewhat at the beginning of the new trading week. On Monday evening, the European common currency was quoted at 1.1590 dollars, 0.2 percent higher. Before the weekend, the euro had fallen to 1.1513 dollars, its lowest level since July 2020. Economic data from the euro zone that were better than expected hardly affected the euro. The Sentix economic indicator rose in November after falling three times in a row. Analysts, on the other hand, had expected a decline again. “The economic slowdown is slowly coming to an end,” commented Sentix on the development. Most recently, the euro was still burdened by monetary policy. As the US Federal Reserve begins to scale back its multi-billion dollar asset purchases, the European Central Bank (ECB) remains true to its extremely loose stance. At the start of the week, chief economist Philip Lane reaffirmed the direction of the central bank: The euro area is “still far from” in a situation in which bond purchases would end, the Irishman said in a newspaper interview. A loose monetary policy usually weighs on a currency.
Crude oil investors are betting on accelerated growth. The price of Brent from the North Sea rose by 1.1 percent to $ 83.65 per barrel. The speculation was fueled by the passing of the billion dollar infrastructure program by US President Joe Biden. In addition, the world’s largest oil company, Saudi Aramco, increased its official sales prices for Asian customers.
Ethereum’s record hunt continued. The cyber currency rose at times by almost eight percent to a record high of $ 4,795.41. The rally will be fueled again by the introduction of a listed US fund (ETF) on this crypto currency, said analyst Kyle Rodda from brokerage firm IG.