The euro fell against the dollar on speculation reports this week will signal a second quarter of economic contraction in Germany
Published:
8 January 2002 y., Tuesday
The euro fell against the dollar on speculation reports this week will signal a second quarter of economic contraction in Germany, the largest economy in the 12-nation currency region.
The number of unemployed Germans rose last month and industrial production declined in November, the government is expected to say. The statistics contrast with U.S. employment figures and a report on the service sector last week that signaled the world's largest economy is rebounding.
Europe's common currency dropped to 89.32 U.S. cents, from 89.50 late Friday in New York. It earlier fell to 88.86 cents. Against Japan's currency, it traded at 117.14 yen compared with 117.12. The yen traded at 131.05 per dollar, compared with 131.03 Friday.
Europe's common currency slid 2.4 percent in the last three months of 2001 after Germany's economy contracted for the first time in more than two years during the third quarter. Economists say it probably shrank further in the fourth quarter.
The December unemployment rate rose to 9.6 percent, according to a poll of economists by Bloomberg News. That would be its highest since May 2000. Separately, indexes of confidence in the euro nations' economies are expected to show declines for December when they are released tomorrow.
Šaltinis:
bloomberg.com
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
The World Bank is seeing a surge in demand from borrowers seeking the Bank’s expertise to mitigate currency and interest rate risk.
more »
The European Commission has approved under EU state aid rules a Lithuanian package intended to stabilise the markets as a response to the global financial crisis.
more »
Total cereal production in 2010 should be close to the average from the last five years. While the yield per hectare will be 5% above average, overall cultivated areas have decreased.
more »
According to the unaudited data, AB Bank SNORAS profit prior to provisions and tax exemption within the first half of this year comprised LTL 51 million, the bank formed almost LTL 48 million provisions.
more »
The European Commission today approved two applications from Denmark for assistance from the EU Globalisation Adjustment Fund (EGF).
more »
The European Investment Bank today signed two loans for a total amount of EUR 150 million in support of small and medium-sized enterprises (SMEs) in Turkey.
more »
On 23 July 2010 the Board of the Bank of Lithuania permitted Bank SNORAS to register a change to the articles of association related to the increase of the authorized capital of the bank by LTL 82.3 million up to LTL 494,217,107.
more »
Heads of State and top officials from the Central American Integration System and World Bank Group President, Robert B. Zoellick, agreed to join efforts towards regional cooperation and integration and adopted a comprehensive agenda that includes an action plan with more than 20 specific measures.
more »
The Executive Board of the International Monetary Fund (IMF) today approved the full cancellation of Haiti’s outstanding liabilities to the Fund, of about SDR 178 million (equivalent to US$268 million).
more »
The Executive Board of the International Monetary Fund (IMF) today completed the third review of Latvia's performance under an economic program supported by a Stand-By Arrangement (SBA).
more »