Euro is in the first weekly loss in a month against the USD

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Euro fell on the European market on Friday against a basket of global currencies, continuing losses for the fourth day in a row against the US dollar, the lowest level in more than a week, the first weekly loss in a month, renewed concerns about deepening the course of monetary policy in Europe and United States , As well as weak demand for safe havens assets.

Euro fell against the dollar by more than 0.3% as of 07:30 GMT, trading at $ 1.1630, the opening price of $ 1.1670, the highest at $ 1.1675 and the lowest at $ 1.1626, the lowest since July 3.

Euro ended yesterday’s trading lower by less than 0.1% against the dollar, its third consecutive daily loss, as the US currency continued to rise after inflation data in the United States.

EURUSD

EURUSD


Over the course of the week, the euro has so far lost more than 0.9% against the dollar, its first weekly loss in a month, as renewed concerns over a deepening monetary policy divergence in Europe and the United States.

The dollar index rose 0.35% on Friday, extending its fifth day in a row, reaching a two-week high of 94.88 points, reflecting continued US dollar purchases against a basket of major and minor currencies, especially against low-yielding currencies, the euro and the Japanese yen.

Continued US currency purchases follow US inflation data in June, boosting the Federal Reserve’s potential to accelerate monetary tightening and raise interest rates two more times this year.

Important economic data from Europe on the global market landscape, as investors continue to focus on fundamentals and weak interaction with US-China trade tensions, the euro is expected to continue falling in the coming trading session.

 

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