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Euro Firm on Friday After Positive Macroeconomic Releases

August 17, 2018 at 19:59 by Vladimir Vyun

A closeup on the euro noteThe euro rose on Friday. Macroeconomic data released in the eurozone during the trading session was good, with inflation coming out within expectations and the current account beating forecasts.

Eurostat reported that eurozone inflation was at 2.1% in July, up from 2.0% in June, according to the final estimate. The reading was the same as in preliminary estimate and matched forecasts.

According to the data provided by the European Central Bank, the current account surplus in June was at roughly the same €24 billion level as in May. Analysts had predicted a decrease to €23 billion.

The investors’ sentiment worsened a bit today as fears about the Turkish crisis resurfaced. Yet it looks like the market was mainly driven by optimism about the upcoming US-China trade talks, allowing the euro to continue its recovery.

EUR/USD rose from 1.1375 to 1.1442 as of 19:50 GMT today. EUR/GBP climbed from 0.8941 to 0.8974. EUR/JPY advanced from 126.05 to 126.57, bouncing from the daily low of 125.57.

If you have any questions, comments, or opinions regarding the Euro, feel free to post them using the commentary form below.

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