Thu, Aug 18, 2022 @ 16:19 GMT
HomeContributorsFundamental AnalysisEuro Maintains Gains As Catalonia Holds Back From Declaring Independence

Euro Maintains Gains As Catalonia Holds Back From Declaring Independence

The common currency was seen making gains yesterday. This came late in the evening as the Catalonia parliament saw the leader holding back from declaring independence.

However, CarlesPuigdemont said that the referendum held was successful but noted that the only way forward was through dialogue. The Spanish courts declared the Catalonian referendum as illegal. The speech that was given late yesterday in the Catalonian parliament was met with mixed reactions but was seen as a positive for the euro currency.

On the economic front, data from the UK showed that manufacturing production rose 0.4% on the month beating estimates of a 0.2% increase. Industrial production rose 0.2% as expected while construction output rose 0.6%.

Looking ahead, the FOMC meeting minutes will be coming out today. Investors will be expecting to see hawkish minutes being released with Fed officials likely to proceed with rate hikes in December.

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