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Euro gains as U.S. economy grows less than expected
The euro rose against the dollar on Thursday after data showed that the U.S. economy grew less than expected in the first quarter.
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Economia Divisas
At 6:05 p.m. (Lisbon time), the euro was trading at $1.0842, above the value recorded the previous day ($1.0817).
The European Central Bank (ECB) set the euro exchange rate at $1.0815.
Data released today by the US Department of Commerce revealed that the economy grew by 1.3% in the first quarter of this year, the weakest quarterly rate since the spring of 2022, below the estimate of 1.6%.
In Europe, and after it was announced on Wednesday that the year-on-year inflation rate stood at 2.4% in Germany, recording the first rise this year, the Spanish National Statistics Institute (INE) announced today that prices in Spain also rose to 3.6% in May, three tenths more than last month.
This change in inflation (price increases compared to the same month the previous year) was mainly due to the increase in electricity, which had fallen in May 2023, the INE said in a statement.
Data released today by the European Commission reveals that the economic sentiment indicator increased slightly in May, both in the EU (0.3 points, to 96.5) and in the eurozone (0.4 points, to 96.0), remaining below the long-term average (100).
Currencies...............today..............Wednesday
Euro/dollar............1.0842.................1.0817
Euro/pound............0.85098...............0.85051
Euro/yen.............169.92.................170.54
Dollar/yen............156.73.................157.66
Read Also: Unemployment falls in April to 6.4% in the eurozone and remains stable at 6% in the EU (Portuguese version)
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