Positive stability of the single currency The euro versus the US dollar in the absence of the US market because of the independence holidays

Thursday, July 5, 2018 5:15 AM – "Arab News – Your Path to the Truth" – The single currency of the European Union has fluctuated in a slightly bullish range against the US dollar following developments and economic data that Wednesday followed the economies of the euro zone, including the warning of Chancellor Germany Angela Merkel, US President Tarmb President of the danger of the outbreak of a trade war and come to the middle of the US market is absent due to the Independence Day in the United States of America.

At 17:50 GMT, the EURUSD rose 0.10% to 1.1670 from the opening at 1.1658 after the close of trading at 1.1682, while the most low to 1.1631.

After the fourth largest economy in the euro area, Spain released a PMI index that showed a contraction of 56.3 vs. 56.4 last May, less than expected at 56.3. The Italian economy, the third largest economy in the region, released the same index, which showed accelerated growth to 54.3 from 53.1, exceeding expectations by 53.3.

We also followed the second largest economy in the euro area The France PMI index showed a contraction of 55.9 compared to the previous reading of May and expectations to 56.4, before to see the German economy The economies of the region revealed the reading of the same index, which showed a widening to the value of 54.5 compared to the previous reading and expectations at 53.9.

resulting in the final reading of the euro area PMI for the month of June, which showed an expansion to 55.2 from the previous reading and expectations to 55.0 against 53.8 in May. The German Chancellor warned the US president of the risk of a trade war if the United States threatened to impose tariffs on its imports of European cars.

On the other hand, the markets are trying to unveil Thursday the minutes of the meeting of the Federal Committee of the Free Market held on June 12 and 13, during which the decision makers of the Fed raised their key interest rates. 25 basis points. Once this year between 1.75% and 2.00%, which was expected by badysts at the time.

Members of the Federal Open Market Committee (FOMC) said last month that the tightening of monetary policy will continue in the coming period and that they will raise federal fund interest rates four times. times this year. 2017, and the minutes of the meeting should give a clearer view of the direction and decisions of the monetary authorities of the Federal Reserve.