Summary Euro gained on the dollar after data showed that Germany economy returned to growth in 3rd quarter.
NEW YORK (AFP) - The euro Tuesday gained on the dollar for a second day running after data showed that Germany s economy returned to growth in the third quarter.
Higher household and government spending enabled Europe s biggest economy to avoid a recession in the third quarter.
Data from the federal statistics office showed gross domestic product for the quarter ending September 30 rose 0.1 percent.
In the preceding three months, the economy had shrunk by 0.1 percent. A recession is defined as two consecutive quarters of falling GDP.
Joe Manimbo, senior market analyst at Western Union Business Solutions, described the single currency as "steady" following the German data. The euro also gained Monday after data showed business confidence in Germany rose for the first time in seven months in November.
US economic reports were mixed. While the Commerce Department unexpectedly raised its estimate for third-quarter growth, to 3.9 percent from 3.5 percent, the Conference Board said consumer confidence dipped in November compared with October.
Omer Esiner, chief market analyst at Commonwealth Foreign Exchange, warned the euro "remains vulnerable" in the days ahead.
Eurozone inflation data later this week "will likely amplify worries about deflation and should keep pressure on the ECB to act again soon with more policy support," he said.
