Euro surges to 2-week peaks against dollar
On Thursday, the euro managed to hit its two-week peaks against the greenback, after the release of positive data from Germany and Spain, while the Fed’s recent policy statement weighed on the evergreen buck.
The currency pair EUR/USD achieved 1.1119 during European morning trade. That’s he pair’s highest outcome since July 15. After a while, the pair consolidated at 1.1110, earning 0.46%.
The pair was likely to gain support at 1.1035,which is the minimum of July 18 as well as resistance at 1.1150, which is the peak of July 15.
Earlier data demonstrated that in July the overall number of unemployed folks in Germany headed south by approximately 7,000, compared with hopes for a 3,000 sag and after a 6,000 dip the previous month.
German unemployment rate is still intact at 6.1% this month, which is in line with expectations.
According to a separate report, Spain’s unemployment rate slumped to 20.00% during the second quarter from 21.00% last quarter.