{"id":44262,"date":"2013-05-08T09:16:00","date_gmt":"2013-05-08T09:16:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-euro-aussie-dollar-up-against-u-s-dollar\/44257\/"},"modified":"2013-05-08T09:16:00","modified_gmt":"2013-05-08T09:16:00","slug":"forex-market-update-euro-aussie-dollar-up-against-u-s-dollar","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/forex-market-update-euro-aussie-dollar-up-against-u-s-dollar\/44262\/","title":{"rendered":"Forex Market Update: Euro, Aussie Dollar Up against U.S. Dollar"},"content":{"rendered":"<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - News Links *\/\ngoogle_ad_slot = \"3490797620\";\ngoogle_ad_width = 468;\ngoogle_ad_height = 15;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<p>The euro climbed against the U.S. dollar as prospects of further monetary easing from the European Central Bank (ECB) faded after the German industrial orders data, showed that industrial orders climbed for the second straight month in March. Industrial order rose 1.2% in March (month-on-month) even as economists were expecting 0.2% decline.<\/p>\n<p><span id=\"more-44262\"><\/span><\/p>\n<p>On Tuesday an economic survey showed that German Industrial orders climbed 2.2% in February while economists were expecting it to fall by 0.5%.<\/p>\n<p>Earlier the ECB Chairman Mario Draghi said that the bank would keep a close eye on upcoming economic indicators and might slash rates to boost growth.<\/p>\n<p>However, two back-to-back solid economic data from European growth engine has lessened hope for any more economic stimulating measures from the ECB.<\/p>\n<p>\u201cPositive German industrial production data clearly questions whether there is space for another <a href=\"http:\/\/www.knowfinance.com\/euro-zone\/\" target=\"_blank\" rel=\"noopener\">euro zone<\/a> rate cut right now,\u201d said Simon Derrick, who is head of currency strategy at Bank of New York Mellon, according to Reuters.<\/p>\n<p>Still, analysts are not sure over whether for how long the common currency would rally against the U.S. dollar given that several other economic data from <a href=\"http:\/\/www.knowfinance.com\/euro-zone\/\" target=\"_blank\" rel=\"noopener\">euro zone<\/a>, including Germany have pointed towards slowdown in the economy.<\/p>\n<p>At last check, the euro climbed 0.69% to trade at $1.3169.<\/p>\n<p>Meanwhile, the Australian dollar also edged higher against the U.S. dollar as the commodity-linked currency received boost from better-than-expected Chinese April trade data.<\/p>\n<p>At last check, the Aussie dollar gained 0.23% to trade at $1.0208.<\/p>\n<p>Earlier on Tuesday, the Aussie slumped to two- month low of $1.0155 after the central bank (RBA) slashed rates to stimulate economy.<\/p>\n<p>&nbsp;<\/p>\n<div class=\"nr_clear\"><\/div>\n<div id=\"nrelate_popular_2\" class=\"nrelate nrelate_popular nrelate_default nr_1col nr_text\"><\/div>\n<p>\t<!--[if IE 6]>\n\t\t<script type=\"text\/javascript\">jQuery('.nrelate_default').removeClass('nrelate_default');<\/script>\n\t<![endif]--><\/p>\n<p>\t<script type=\"text\/javascript\">\n\t\/* <![CDATA[ *\/\n\t\tnRelate.domain = \"www2.thestockmarketwatch.com%2Fstock-market-news\";\n\t\tvar entity_decoded_nr_mp_url = jQuery('<span\/>').html(\"https:\/\/web.archive.org\/web\/20130616105233\/http:\/\/api.nrelate.com\/mpw_wp\/0.51.4\/?tag=nrelate_popular&domain=www2.thestockmarketwatch.com%2Fstock-market-news&url=http%3A%2F%2Fwww2.thestockmarketwatch.com%2Fstock-market-news%2Fforex-market-update-euro-aussie-dollar-up-against-u-s-dollar%2F44262&nr_div_number=2&maxageposts=7200&increment=1\").text();\n\t\tnRelate.getNrelatePosts(entity_decoded_nr_mp_url);\n\t\/* ]]&gt; *\/\n\t<\/script>\n\n\n<div class=\"nr_clear\"><\/div>\n\n\n<script id=\"mNCC\" language=\"javascript\">  medianet_width='600';  medianet_height= '250';  medianet_crid='814932888';  <\/script>  <script id=\"mNSC\" src=\"https:\/\/web.archive.org\/web\/20130616105233js_\/http:\/\/contextual.media.net\/nmedianet.js?cid=8CUT71M67\" language=\"javascript\"><\/script> \n\n\n\n\n<!-- AddThis Button BEGIN -->\n\n\n<div class=\"addthis_toolbox addthis_default_style addthis_32x32_style\">\n<a class=\"addthis_button_preferred_1\"><\/a>\n<a class=\"addthis_button_preferred_2\"><\/a>\n<a class=\"addthis_button_preferred_3\"><\/a>\n<a class=\"addthis_button_preferred_4\"><\/a>\n<a class=\"addthis_button_compact\"><\/a>\n<a class=\"addthis_counter addthis_bubble_style\"><\/a>\n<\/div>\n\n\n<script type=\"text\/javascript\">var addthis_config = {\"data_track_addressbar\":true};<\/script>\n<script type=\"text\/javascript\" src=\"http:\/\/s7.addthis.com\/js\/250\/addthis_widget.js#pubid=pennystocksfinder\"><\/script>\n<!-- AddThis Button END -->\n\n\n\n\n<p>More Posts by this author<\/p>\n\n\n\n<ul>\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gamestop-shares-upgraded-gme\/45233\">\nGameStop Shares Upgraded (GME)<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-end-lower-16\/45225\">\nStocks End Lower<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-settle-higher-silver-prices-also-gain-23\/45222\">\nGold Prices Settle Higher; 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An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.\n<\/div>\n\n\n<\/td>\n\n<\/tr>\n\n<\/table>\n\n\n\n\n\n\n\n<!--script type=\"text\/javascript\">\ngoogle_ad_client = \"pub-1408583772585547\";\n\/* 336x280, created 7\/9\/11 *\/\ngoogle_ad_slot = \"3552319058\";\ngoogle_ad_width = 336;\ngoogle_ad_height = 280;\n\n<\/script>\n<script type=\"text\/javascript\"\nsrc=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script-->\n\n\t\t\t\t\t\t\n\n\t\n\n<div style=\"margin:5px;margin-bottom:20px;font-size:11pt;\">&laquo; <a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/\">Return to Stock Market News<\/a> &laquo; <\/div>\n\n\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The euro climbed against the U.S. dollar as prospects of further monetary easing from the European Central Bank (ECB) faded 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