Economy bets back common currency for a fifth day

Economy bets back common currency for a fifth day

On Thursday, the common currency ascended to a two-week maximum after a bunch of strong reports that underpinned a growing view that the ECB will roll out a plan to wind down its enormous stimulus plan at a policy gathering later this month.

Italian industry data surpassed forecasts right after Germany unveiled firm trade data earlier this week, pointing to a broad-based economic revival in the euro zone notwithstanding the euro’s double-digit revenues in 2017.

Additionally, political concerns have also relieved after Catalonia ceased moving further with its independence, thus putting a floor under the common currency.

The euro hit its highest value in more than two weeks demonstrating $1.1878. The common currency has rallied for five consecutive sessions.

The euro was also underpinned by some general greenback weakness, driven by minutes from the Fed’s latest gathering, which hinted some key bankers were still concerned over everlasting low inflation.

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S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.

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