The euro rose against the US currency on Friday after the release of mixed euro zone economic reports. Demand for the dollar remained weak due to disappointing US statistics published during the last session.
During the morning session on European markets, EUR/USD rose to 1.1188, the highest since June 19; Then it slightly decreased to 1.1183 (euro gained 0.30% until now).
Probably, the pair will find support at the June 21 low at 1.1126, and resistance at the level of 1.1231 - the high of June 15.
A report by Markit said that the index of business activity in the manufacturing sector (PMI) of Germany fell to 59.3 in June after a value of 59.5 in the previous month. Experts predicted a decline in this indicator to 59.0. The index of business activity (PMI) in the services sector dropped to 53.7 compared to the expected value of 55.4.
In another report, Markit said that the index of business activity in France rose to 55.0 in June against 53.8 in May. The growth was expected to reach 54.0. The index of business activity (PMI) in the services sector of France dropped to 55.3 compared with the expected value of 56.9.
The composite index of business activity (PMI) from Markit for the entire euro area, which measures the results of activity in the manufacturing and service sectors, fell to 55.7 in June against a value of 56.8 last month. The value for June was worse than predicted 56.2.
Today is the second day of negotiations at the meeting of the leaders of the EU countries.
British Prime Minister Theresa May on Thursday announced her intention to conclude a mutually beneficial agreement to protect the rights of citizens of the EU countries in the UK and the British living on the mainland. She noted that she does not want to prevent Brexit from destroying families due to moving to other countries.
The dollar exchange rate remained under pressure after the report of the US Department of Labor said that the number of initial applications for unemployment benefits in the US rose 300 for the week ended June 17. The total number of applications is now 241,000. Last week, the number of applications was 238,000. Analysts had expected an increase in the number of applications by 2000 to 240 thousand.
Euro fell against the pound – EUR/GBP slipped 0.14% to hit 0.8780.