The single currency of the euro area rose above the 1.19 level per US dollar in the last week
The single currency of the European Union region rose nearly 1 per cent during the US session, the highest level since September 22 against the US dollar, following economic developments and data followed Friday by the economies of the eurozone and its US economy, the world's largest economy.
At 5:33 pm GMT, the EURUSD rose 0.75% to 1.1940, compared to the opening at 1.1850 after the pair hit a two-month high of 1.1941, while the session's low was at 1.1837.
We have followed the German economy reading the IFO Business Climate Index, which showed an expansion of 117.5 against expectations in October, following a statement by ECB member Daniel Mwai earlier in the day that the European central banks to intensify their efforts to control On the non-performing loans, pointing out that the European Central Bank began to assess the performance of banks to address bad debts and that the debt should be assessed for each bank separately, adding that banks are currently suffering from a lack of profitability.
On the other hand, we followed the US economy to reveal the preliminary reading of the PMI for the month of November, which showed a contraction of the breadth of 53.8 compared to 55.3 in October, contrary to expectations at 55.5 This comes amid weak liquidity levels after The US market was absent on Thursday due to the Thanksgiving holiday and on the eve of the early closure of the US market in the shadow of the start of the holiday season in the United States.
