(MENAFN– ecpulse)
The euro rose against the US dollar on Thursday after the better-than-expected economic data, ahead of the advanced reading of euro zone GDP tomorrow.
The European economy released today the final reading of consumer prices for October, where it showed stability in the pace of price changes in the biggest euro zone economies – Germany, recording a decline by 0.3% on a monthly basis and 0.8% annually.
In France, consumer prices rose 0.5% compared to the initial reading and expectations at 0.3% on an annual level, while prices recorded stability on monthly basis.
Finally, consumer prices in Spain showed an increase of 0.8% on a yearly basis, and 0.5% monthly. Harmonized CPI in Italy rose by 0.2% matching the expectations and previous reading.
The euro was able to clear some of yesterday’s losses after the economic data that showed stability of inflation in economies of the euro area in October.
On a weekly level, the euro consolidated in conjunction with the weak economic data, but remains pending against the advanced reading of growth on Friday.
Euro rose 0.27% against the dollar, trading at 09:08 GMT around 1,2469, compared to the opening levels 1,2437.
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