The euro was traded mixed against the G10 currencies due to mixed data from ECB President Mario Draghi and economic indicators. Kiwi is the center of focus today, ahead of the first RBNZ policy meeting with governor Grant Spencer.
Euro Recorded the Fourth Negative Day vs U.S. Dollar
The single currency dropped to a 4-month low during the speech of ECB President Mario Draghi and recorded the fourth negative day in a row. The euro rose against the commodity currencies, while it ended the day slightly lower against the of the G10 currencies. Draghi didn’t comment on the monetary policy, however, he mentioned that the negative interest rates weighed negatively on the profit of the European banks. Going to the indicators, Eurozone’s retail sales rose by 3.7% in September from 2.3% the prior month, beating expectations of 2.7%, year-over-year. On the other hand, the German industrial production for September fell short of market consensus to be 4.4% from 4.6% before and expended just by 3.6%, year-over-year.
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