London (awp / afp) – The euro rose slightly against the dollar on Tuesday in a cautious market pending the resumption of Sino-US trade talks.
Around 08:45 GMT (10:45 CET), the euro gained 0.16% against the greenback, to 1.0989 dollar.
"In the short term, the trade dispute remains the main factor in the evolution of the dollar," said Antje Praefcke, an analyst for Commerzbank.
Donald Trump announced Monday that he favors a global trade agreement with Beijing rather than a partial treaty, but some US media have said that the Chinese authorities have significantly reduced the scope of litigation they are willing to address this week.
"The flow of information on the subject does not really improve the mood of the market," said Praefcke.
On the other hand, "the US president could adopt a more conciliatory tone in order to keep the spotlight off discussions on the impeachment process," added David Madden, analyst for CMC Markets.
Regarding the euro, several analysts have highlighted the good figures of German industrial production in August (+ 0.3% while analysts surveyed by Factset expected a rebound of 0.1% and that production had dropped by 0, 4% in July).
If, according to some observers, this better-than-expected figure has been able to benefit the euro, the movement has remained very limited because the overall situation of the German economy "is still complicated," said Naeem Aslam, an analyst for Think Markets.
Tuesday class Monday class
08:45 GMT 21:00 GMT
EUR / USD 1,0989 1,0971
EUR / JPY 117.76 117.67
EUR / CHF 1.0909 1.0914
EUR / GBP 0.8958 0.8925
USD / JPY 107.18 107.26
USD / CHF 0.9928 0.9948
GBP / USD 1.2268 1.2293
ktr / bp / evs