Weekly: Euro Currency Traded In A Positive Manner Touching The Higher Levels Of 1.1969
- Market News
- Special Report
- 2021, 28 June
Last week, the Euro currency traded in a positive manner
touching the higher levels of 1.1969. Reason behind the same
can be attributed to the robust release of economic dataset
from the zone which boosted sentiments. The German business
morale rose by more than expected in June and hit its highest
level since November 2018 on companies' surging optimism
about the second half of the year.
Moreover, Eurozone private sector grew at the fastest rate in 15
years in June. Apparently, the private sector improved as the
economy re-opened further from virus-fighting restrictions and
vaccine progress boosted confidence.
In addition, the European Central Bank head Christine Lagarde
told European Union leaders that the Euro-zone was recovering
faster than earlier expected, but still needed continued fiscal
and monetary support so that the pandemic did not leave scars.
Buy above 1.1605 for 1.2350 and 1.2550
Sell below 1.1605 for 1.1170 and 1.0725