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Euro continues to climb for a second straight session.

The European single currency ended yesterday's sessions by gaining a rise by 0.2 percent against the US Dollar. We noticed that Euro currency returned to be traded at the highest level of 1.3 dollars, many thanks to the good data from the EU continent's economy that revealed Germany low unemployment with dramatic increasing of confidence in the European economy.

Improved confidence in the Euro Zone economy more than expected in June to the highest level in a year is regarded as a clear sign that Europe could stand up from the sovereign debt crisis and the economic recovery could be gaining more momentum.

European Commission's Economic Morale Index rose to 91.3 points in June. It’s the highest level since May 2012, compared with 89.5 points in May and compared to market expectations for an increase to 90.3 points. In other respective, the Business Climate Index rose in the Euro Zone to -0.68 points from -0.75 points in May. The two indices witnessed an improvement since April.

During the Asia Markets, Euro rose for a second day in a row, extending its journey of recovery from the lowest level in more than three weeks of $ 1.2985 recorded on Wednesday after comments by Mario Draghi, who said that the Bank will go ahead in its stimulus policy with presence of risks of growth in the Euro Zone.

Awaiting the European economy many important data over European session, it will be released the rate of Consumer Spending in France and Consumer Prices in Italy and Germany for the month of June. The pair euro against the U.S. dollar is trading at 05:34 GMT, around 1.3065 after recording high of 1.3074 and low of 1.3030.

Friday, 28 Jun, 2013 / 7:47

Source : https://www.firstbinaryoption.com

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