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The single currency of the European Union has fluctuated in a slightly bullish range during the US session to experience its lowest rebound since July 4 against the US dollar following developments and economic data that followed Thursday on the economies of the euro zone and the United States. Which included the disclosure of the minutes of the meeting of the European Central Bank and the middle of the Eurogroup meetings in Brussels.
At 16:15 GMT, the EURUSD rose 0.13% to 1.1689, compared with the opening at 1.1674, after hitting a week high of 1.1666 while the lowest level of the session At 1.1650. Germany released the latest reading of the consumer price index, which showed steady growth of 0.1%, in line with expectations, unchanged from what it was in the previous preliminary reading for the month of June, Unlike 0.5% growth in May, the annual reading of the index showed that stability of growth to 2.1% is also in line with expectations.
This development precedes the final CPI of the French economy, the region's second-largest economy, which displays a zero stability compared to the previous preliminary reading and expectations at 0.1% vs. 0, 4% in May, the entire euro area grew 1.3% compared with 0.9% in April, exceeding expectations of an increase of 1.2%.
for the presentation of the minutes of the meeting of the European Central Bank of 13 and 14 June, during which interest rates were kept at zero and the interest rates on deposits at -0.40% Quantitative easing and the purchase of bonds until September of 30 billion euros per month, then reduced the program to 15 billion euros in the next three months before the end of the program by the end of the year.
On the other hand, we follow the US economy to release inflationary data according to the consumer price index, which slows the growth of inflationary pressures to 0.1% over the previous reading of May and expectations of 0.2% It has stabilized at a growth rate of 0.2% in line with expectations, unchanged from the previous reading in May.
As for the annual reading of the consumer price index, growth acceleration to 2.9%, in line with expectations, is 2.8% compared to the previous month. Also with expectations against 2.2% in the previous annual reading for May.
This came in conjunction with the publication of requests for help for the week ending July 7, showing a drop of 18 thousand requests to about 214 thousand requests, exceeding expectations at 225 thousand requests, as explained by requests for ongoing badistance for the week that ended on June 30, decreased by 3 thousand requests to about 1 739 000 requests, contrary to the expectations of 1 730 000 requests.
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