The euro fell on Monday after data showed Germany’s economy contracted…


Stocks rose slightly on Monday after Friday’s mixed US jobs report pushed the dollar to a one-week low as attention focused on this week’s economic data from the world’s two largest economies.
The euro fell on Monday after data showed Germany’s economy contracted more than expected in June and highlighted the challenges faced by manufacturing during a recession in Europe’s largest economy. $
On Friday, $
rebounded from a one-week low after data showed the United States created fewer jobs than expected in July, amid signs of rising wages and falling unemployment.

This indicates that the Fed will need to keep interest rates higher for longer.
The US dollar index, which measures the dollar’s return on a basket of currencies, rose 0.2% to 102.27 from Friday’s low of 101.73.

US economic data will be released on Thursday and the principal is expected to increase by 4.7% year-on-year in July.
“We see the economy cooling down, but it’s not crashing. It’s going the way we want it to,” said Chris Weston, Pepperstone research director. “

, the US is still experiencing the best growth and your central bank is still on the record,” Weston said.
“I think there is a risk that CPI data will exceed expectations this week.”

Euros fell 0.3 percent to $1.0980, reaching a one-month low.

“See you tomorrow.
…weaker-than-expected German manufacturing data reminds of the headwinds facing the eurozone economy and the possibility of a higher ECB rate,” said Jane Foley, head of currency strategy at Rabobank.

Also this week in China. July economic data will be released on Wednesday and traders will are looking for signs of economic growth in the world’s second largest economy, with customers growing steadily in June.
“While China’s recovery narrative will likely continue in the short term, continued support from the Chinese government should push the yuan higher.”

Offshore yuan fell 0.2%, hovering near two-week lows. to 7.2034 against the dollar. China’s banking system will continue to have sufficient liquidity, but investors still expect more as Beijing gradually expands incentives to stimulate business, a Chinese official said on Friday.
The yen fell 0.4% to 142.28 after hitting a one-week high of 141.52 in Asian markets.

As the Bank of Japan discussed the expansion of inflation at its July meeting, a board member said wages and prices would rise “unprecedentedly”, according to opinion content released Monday. .
Elsewhere, sterling fell 0.18% to $1.2729 on Thursday, hitting a one-month low after the Bank of England raised interest rates by 25 basis points to 5.25%, a 15-year high.

This is the 14th rate hike in a row, but the pace of monetary tightening has slowed down after the 50 basis point increase in the last meeting.

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