Forex and commodities – The euro defends profits – Economy

The euro gave way on Friday. However, the common currency was essentially able to hold onto its gains of the last trading days. It was listed in the early evening at 1.1861, 0.2% lower than the day before. During the week, the weakness of the dollar had given a strong boost to the euro. The lack of clear indications from the US Federal Reserve to exit extremely accommodative monetary policy and disappointing US economic data had recently weighed on the US currency. During the week, the euro was able to gain more than a cent.

Meanwhile, the British pound has continued to climb recently, reaching its highest level in one month at $ 1.3989. The rise in the British currency was helped by the weaker dollar and a drop in corona cases in the UK.

Oil prices have extended their recent gains slightly. A barrel of North Sea Brent rose 0.3% to $ 76.30 after the price had already risen 1.8% on Thursday. The market said demand is growing faster than supply, while vaccinations are expected to ease the effects of the recurrence of corona infections around the world.

“Market participants do not seem to see the problem of the Delta variant as alarmed as it was at the start of last week,” said Carsten Fritsch, analyst at Commerzbank. “It is certain that the vaccination campaigns underway in developed countries will prevent the reintroduction of generalized restrictions on mobility,” he added. The price of gold remained at $ 1,826 per troy ounce. The precious metal thus defended its rise of 1.4% in value this week.

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