Euro in Rise Against the Dollar Despite Recent Slump

The euro has risen in value against the dollar since this morning GMT, in the first trading day of the year, moving up from buying $1.082 to a peak of $1.094, before falling to $1.088 early in the afternoon.

 

Despite this morning’s positive news, the euro has fallen in value against the dollar since Christmas, in contrast to the initial strong reaction to the United States Federal Reserve, deciding to hike up interest rates to 0.25% on December 16 last year.

 

The euro has also increased against the UK pound, reaching just over the £0.741 mark at just past 8AM GMT, and the euro is now currently buying  £0.738.

 

Contrasting Fortunes for the Euro Against Asian Currencies

 

The Japanese Yen has appreciated against the euro over the holiday season, with the euro now buying Y129.7, lower than the peak of rising to  Y130.1 this morning GMT.

 

Although the euro has enjoyed better fortunes against the Chinese Yuan, rising to buying RMB 7.14.

 

This mirrors the highest figure that the euro has been buying against the Yuan over the Christmas and New Year period.

 

Euro Appreciates Against Gold and Silver

 

The euro has increased by 0.52% this morning, now buying 983 per ounce, and 31.6 per gram. Despite the climb this morning, the figure is down from the 984 per ounce over Christmas.

 

Against silver, the euro has escalated by 0.45%, now purchasing 12.80 per ounce, and 0.41 per gram. However, in a similar fashion to gold, the euro was buying more over the festive period, reaching over 13 ounces.

 

German Employment Increased in 2015

 

The German Federal Statistical Office has revealed that employment in Europe’s most powerful economy, rose by 0.8% for 2015, an increase of 324,000 jobs, when compared to the previous year. There are now 43 million citizens who are now in work.

 

Even though the figures are a boost to the German economy, the rise is less than the one recorded for 2014, when the increase was 0.9%.

 

The employment figures reflect the steady growth in Germany for last year, with the first and third quarter growth  reaching 0.3%, and the second quarter being slightly more prosperous of 0.4%.

 

 For the first time since German reunification in 1990, the levels of unemployment are below 2 million.

 

The service sector was the largest employer, with 341,000 more jobs created in  those industries, an increase of 1.1%

 

The largest gains came in business services, with a 2.6% rise, resulting in an extra 145,000 people starting new jobs.

 

While there was a 1.3% increase in employment in the, plus there was 0.8% employment growth in the trade, transport, accommodation and food services.

 

In construction, the numbers were slightly down by 12,000 jobs, and there was also a decrease by 16,000 in agriculture, forestry and fishing.

 

German Consumer Prices rise by 0.3%

 

The consumer price index is expected to have risen by 0.3% in 2015, in comparison to the previous year, official sources have released.

 

The inflation rate for December is also expected to stand at 0.3%, a month on month increase of 0.2%.