Euro registers another winning week
December 18, 2020SharePrint
The euro is showing small losses in the Friday session. Currently, EUR/USD is trading at 1.2246, down 0.18% on the day. Despite today’s dip, it has been an excellent week for the pair, which is up 1.20 per cent.
German business morale rises
The week wrapped up with positive news out of Germany, as the Ifo Business Climate rose to 92.1 in December from an upwardly revised reading of 90.9 in November. The improvement in business morale was all the more impressive given that Germany is once again in a lockdown due to the Covid pandemic. After a rebound in Germany’s GDP in Q3, there are concerns that a prolonged lockdown will drag growth lower in Q4, possibly showing contraction. Inflation in Germany remains low, but the Producers Price Index eked out a small improvement in November, rising from 0.1% to 0.2%. Earlier in the week, German PMIs for November indicated that manufacturing continues to expand, while the s