Forex and commodities – Markit Data supports the euro – Economics

The euro exchange rate was little moved on Friday and stagnated at $ 1.7771. “The prospect of a continued glut of money from the European Central Bank (ECB) troubles the euro,” traders said. Larger losses prevented better-than-expected economic data for Germany. “Despite delivery bottlenecks and persistent corona risk, the German economy is growing at record speed. It was ‘still in the fast lane’ in July, economist Phil Smith said on Friday of the results of its IHS Markit survey of hundreds of companies.private sector has grown over the current month from 2.4 to 62.5 points – the highest value since statistics began in 1998. The barometer is already showing growth from 50. Economists had predicted only a slight increase to 60.8 points since the Corona crisis is therefore a little stronger than expected, which is also noticeable throughout the euro area. is mainly due to the German service providers, which benefit from the removal of most Corona restrictions.7 points to a record high of 62.2 points, while the industry one increased from 0.4 to 65, 6 points.

Oil prices have fallen slightly. In the evening, a barrel (159 liters) of North Sea Brent cost $ 73.72. It was 0.1 percent lower than the day before. After significant price drops at the start of the week and surcharges during the week, oil prices are currently at about the level of a week ago. At the same time, they are well below their multi-year highs reached in early July.

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