The single currency is the third consecutive weekly gain against the US dollar

The single currency of the European Union has reached its highest level since June 14 against the US dollar following economic developments and data followed on Friday the economies of the euro area and the US economy , the world's largest economy, Schulz said it should gradually return to normal monetary policies by the European Central Bank.

At 14:56 GMT, the EURUSD rose 0.57% to 1.1758 from the opening at 1.1691 after the pair reached its highest level in four weeks at 1.1767, while the bottom one was reached during the trading session at 1.1680.

Germany's largest economy followed the seasonally adjusted industrial production index, which rose 2.6% from 1.3% in April, exceeding expectations for the year. an increase of 0.3%, while reading the index itself has accelerated to 3.1% vs. 1.4% when reading from the previous April, well above expectations of 1.5%.

It was before the second economy of the euro zone. France posted a deficit of 6.0 billion euros against 5.2 billion euros in April, against a forecast of 5.1 billion euros. Leading to the release of retail sales by Italy's third-largest economy, which showed a 0.8% increase of 0.4% in April, exceeding expectations of a gain of 0.4%.

In another context, German Chancellor Angela Merkel said that the negotiations for the exit of the European Union are entering a decisive phase and that the common policies must be coordinated by October next, explaining that the UK Government make important decisions over the coming period, adding that it will support cooperation between his country and Britain in the future, particularly in the areas of security and security. foreign policy.

On the other hand, the European Trade Commission (CEC), Cecilia Malmstrom, estimated that the US-China trade dispute would have a negative effect on world economic growth and that the trade war was bad and that nobody could 39; prevail. US tariffs of 25% on Chinese products estimated at $ 34 billion and China responded with tariffs on US products of similar value.

On the other hand, we tracked the US economy, the world's largest economy, to reveal labor market data for June, showing a rise in unemployment to 4.0% from in the previous May. Its lowest level since the end of 2000 at 3.8%, while the index of average hourly earnings showed slower growth at 0.2% compared to the previous reading and expectations of 0, 3%.

In the same context, we also followed the publication of the nonagricultural payroll index, which shows a lower job creation rate than in 2013 compared to 244,000 jobs created in May. This came in tandem with the trade balance index showing a contraction of the deficit to $ 43.1 billion from $ 46.1 billion in April, exceeding expectations that the deficit had decreased to $ 43.6 billion of dollars.