Euro slips on German recession fears, sterling steady
Tuesday, 15 January 2019 16:41 WIB | CURRENCIES | Euro

The euro edged down on Tuesday as investors prepared for German growth figures that could indicate the continent's largest economy went into a technical recession in the last quarter of 2018.

A unexpected fall last week in German industrial output weakened the euro and underscored concerns about a slowdown and the European Central Bank's caution as it tries to wean the region off stimulus.

German exporters are struggling with weaker global demand and trade disputes driven by U.S. President Donald Trump's policies.

Economists polled by Reuters expect figures for gross domestic product (GDP) data due at 09:00 GMT to show 1.5 percent growth in 2018. But it is the breakdown of the last quarter of the year that is in focus.

Investors are closely watching sterling with British Prime Minister Theresa May widely expected to lose a vote in parliament later on Tuesday on her Brexit deal.

Sterling traded flat against the dollar at $1.2871 ahead of the vote, close to a 2-month high hit on Monday of $1.2930.

The dollar index on Tuesday weakened by 0.1 percent to 95.48.

Elsewhere, the Australian dollar and kiwi dollar, both considered proxies for global risk appetite, were up 0.2 percent each, having recovered from Monday's lows.

Source: Reuters

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