{"id":46175,"date":"2013-07-25T08:23:00","date_gmt":"2013-07-25T08:23:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-euro-sterling-down-against-dollar\/46173\/"},"modified":"2013-07-25T08:23:00","modified_gmt":"2013-07-25T08:23:00","slug":"forex-market-update-euro-sterling-down-against-dollar","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/forex-market-update-euro-sterling-down-against-dollar\/46175\/","title":{"rendered":"Forex Market Update: Euro, Sterling Down Against 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 and pound sterling edged down against the U.S. dollar on Thursday as economic indicators both from the U.K. and Germany failed to inspire investors, prompting them to cut positions on both currencies.<\/p>\n<p><span id=\"more-46175\"><\/span><\/p>\n<p>The euro fell after the German Ifo Index, a gauge on business sentiment, showed a reading which was mainly in-line with economists\u2019 expectation. The Index stood at 106.2 in July up from 105.9 in June. Economists\u2019 forecast was for a reading of 106.1<\/p>\n<p>The common <a href=\"http:\/\/www.knowfinance.com\/currency\/\" target=\"_blank\" rel=\"noopener\">currency<\/a> which hit a session high of $1.3239 slipped 0.1% to trade at $1.3185.<\/p>\n<p>Meanwhile Britain\u2019s economy showed a modest growth in the second quarter. The country\u2019s GDP grew by only 0.6% in the second quarter YOY compared to 1.4% in the first quarter.<\/p>\n<p>The pound sterling fell 0.19% against the USD to trade at $1.5286.<\/p>\n<p>\u201cThe Ifo numbers were not sufficiently good to spark another round of euro buying after yesterday&#8217;s PMI surprise,\u201d said Chris Turner, head of FX strategy at ING, according to Reuters.<\/p>\n<p>Earlier on Wednesday, the PMI Index both from Germany and France showed faster-than-expected expansion in business activities in July, boosting the euro.<\/p>\n<p>\u201cOn sterling, I think we have potentially seen the best because the market will start getting used to the Bank of England&#8217;s forward guidance in coming weeks,\u201d added Turner, according to Reuters.<\/p>\n<p>However, the dollar was down against the yen. At last check the USD fell 0.52% to trade at yen 99.75.<\/p>\n<p>The dollar index slipped to 82.23 on Thursday, having hit a session low of 82.07.<\/p>\n<div class=\"nr_popular_placeholder\" data-permalink=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-euro-sterling-down-against-dollar\/46175\" data-title=\"Forex Market Update: Euro, Sterling Down Against Dollar\"><\/div>\n<p><script id=\"mNCC\" language=\"javascript\">  medianet_width='600';  medianet_height= '250';  medianet_crid='814932888';  <\/script>  <script id=\"mNSC\" src=\"https:\/\/web.archive.org\/web\/20130729082351js_\/http:\/\/contextual.media.net\/nmedianet.js?cid=8CUT71M67\" language=\"javascript\"><\/script> <\/p>\n<p><!-- AddThis Button BEGIN --><\/p>\n<div class=\"addthis_toolbox addthis_default_style addthis_32x32_style\">\n<a class=\"addthis_button_preferred_1\"><\/a><br \/>\n<a class=\"addthis_button_preferred_2\"><\/a><br \/>\n<a class=\"addthis_button_preferred_3\"><\/a><br \/>\n<a class=\"addthis_button_preferred_4\"><\/a><br \/>\n<a class=\"addthis_button_compact\"><\/a><br \/>\n<a class=\"addthis_counter addthis_bubble_style\"><\/a>\n<\/div>\n<p><script type=\"text\/javascript\">var addthis_config = {\"data_track_addressbar\":true};<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/s7.addthis.com\/js\/250\/addthis_widget.js#pubid=pennystocksfinder\"><\/script><br \/>\n<!-- AddThis Button END --><\/p>\n<p>More Posts by this author<\/p>\n<ul>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/cirrus-logic-shares-tumble-despite-56-jump-in-q1-revenue-crus\/46233\"><br \/>\nCirrus Logic Shares Tumble Despite 56% Jump in Q1 Revenue (CRUS)<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/amazon-com-miss-q2-expectations-amzn\/46231\"><br \/>\nAmazon.com Miss Q2 Expectations (AMZN)<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/expedia-shares-tumble-as-q2-profit-misses-estimates-expe\/46226\"><br \/>\nExpedia Shares Tumble as Q2 Profit Misses Estimates (EXPE)<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/activision-blizzard-shares-surge-as-company-buys-stake-back-from-vivendi-announces-new-capital-structure-atvi\/46224\"><br \/>\nActivision Blizzard Shares Surge as Company Buys Stake Back from Vivendi; Announces New Capital Structure (ATVI)<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-recover-in-late-trading-to-end-slight-higher\/46222\"><br \/>\nStocks Recover in Late Trading to End Slight Higher<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-settle-lower-but-gain-for-the-week-silver-prices-fall-sharply\/46220\"><br \/>\nGold Prices Settle Lower but Gain for the Week; Silver Prices Fall Sharply<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-u-s-dollar-at-5-week-low\/46217\"><br \/>\nForex Market Update: U.S. Dollar at 5-Week Low<\/a><\/li>\n<\/ul>\n<hr>\n<table style=\"border:none;margin:0;\">\n<tr>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/web.archive.org\/web\/20130729082351im_\/http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/wp-content\/uploads\/userphoto\/5.jpg\" alt=\"edliston\" width=\"125\" height=\"125\" class=\"photo\"><\/td>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<div style=\"font-size:11pt;\"><b>Post Written By: Ed Liston <\/b><\/div>\n<div style=\"font-size:10pt;\">\n<p>Ed Liston is a senior contributing editor at TheStockMarketWatch.com. 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<\/p><\/div>\n<\/td>\n<\/tr>\n<\/table>\n<p><!--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--><\/p>\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","protected":false},"excerpt":{"rendered":"<p>The euro and pound sterling edged down against the U.S. dollar on Thursday as economic indicators both from the U.K. 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