020 7898 0500Positive data from the eurozone helped the euro climb above US$1.20 resistance for the first time since January 2015 yesterday. The single currency is set to rise for a sixth consecutive month, which is its longest winning streak in more than four years. Figures released showed that France’s economy grew by 0.5% in the three months leading up to June. While this was expected, it still helped boost the euro, not least as this is now the third quarter in a row that France’s GDP has increased by that amount.
Meanwhile, consumer confidence continues to grow in Germany, as the GfK consumer confidence survey came in at 10.9 against an expectation of 10.8. In a day filled with ‘levels-that-have-not-been-seen-for-some-time’, 10.9 is the highest level since October 2001.
It’s a fairly busy week for the eurozone and economic data. Today and tomorrow are the main focus of the week, as the inflation numbers are scheduled to be released.
