Euro rate falling against US dollar

The euro exchange rate on March 1 morning fell against the US dollar in anticipation of statistical data on Germany and the eurozone, Report informs.

The euro exchange rate against the dollar fell to $1.1201 per euro from the previous closing level of $1.1219. The dollar index (the exchange rate against a basket of currencies of six countries - the main US trading partners) rose by 0.13%, to 96.84 points.

Currency investors on March 1 morning expect the publication of a number of macroeconomic data on the eurozone and Germany. Analysts believe that inflation in Germany in February, according to preliminary estimates, accelerated in annual terms to 5.1% from 4.9% a month earlier.

The final estimate of the Purchasing Managers Index (PMI) in the field of industrial production of 19 eurozone countries will be published later. Analysts expect the index to drop to 58.4 points in February from 58.7 points a month earlier, which is in line with the preliminary estimate.

Also, investors continue to monitor the geopolitical tensions that support the dollar as a safe-haven asset against the euro.