Commodity News
HeadLine : Euro bears lurk as worries about economic outlook grow
Date : Feb 18 2020
The euro traded near a three-year low versus the dollar ahead of a highly watched German survey on Tuesday, which is expected to show a sharp slump in investor confidence and fuel growing pessimism about the outlook for Europe's largest economy. Financial markets clung to tight ranges following a U.S. public holiday on Monday, shifting the investor focus to European news and developments in the coronavirus crisis. Sterling nursed losses against the dollar and the euro due to lingering worries about economic ties between Britain and the European Union as both sides laid out conflicting views on how to proceed with trade negotiations. In Asia, the Chinese yuan and the Japanese yen held steady as traders assessed the spread of an outbreak of a new coronavirus both inside and outside China. Sentiment for the euro has worsened dramatically this month after weak manufacturing and gross domestic product data from Germany, Europe's largest economy, suggests that the euro zone is more vulnerable to external shocks that previously thought.

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