Forex News and analyses

The euro fell to a seven-month low against the dollar

17 november 2015

The single currency fell sharply against the dollar on Monday morning to 1.0685 or a fall of 0.82%

The euro closed in the red zone for a third consecutive session against the dollar and for the fourth session of the last six days. For the last month the single currency notes 6% decline against the US dollar. Data from the day showed growth in eurozone inflation to 1.1% yoy but it still declined last month to 0.1 percent growth at  expected  0.2%. The euro fell against the Japanese yen  to 131.58 and against the British pound up to 0.7028.

The greenback performed well against its major competitors, such as USD / JPY noted strong growth up to 123.17. Japan's GDP disappointed investors, as the country's economy shrank to 0.8% yoy. This puts the country in a technical recession The dollar was profitable against the Swiss franc as the currency pair USD / CHF climbed to 1.0096. Oil prices rose sharply on Monday after the French army inflicted airstrikes in Syria, but the Canadian dollar remained still on the losing side against its US namesake and USD / CAD rose to 1.3329. The index of business activity in New York rose for the month to -10.7 points, while FED member- Stanley Fischer again announced that it is entirely possible an increase in interest rates in the U.S for the first time more than a decade at the next meeting in December.

Among the biggest losers of the day was the New Zealand dollar, which fell against the U.S dollar to 0.6490. The Australian dollar  followed and the currency pair AUD / USD dropped to 0.7095. The British pound recorded a significant decline against the greenback, as today is expected inflation data in the UK. The pair GBP / USD fell to 1.5201, but against the yen, the pound climbed to 187.24.Gold recorded fifth consecutive session of losses against the U.S dollar and precious metal ended at $ 1,081.91 an ounce on Monday.