Euro Has Strengthened Slightly
The euro has strengthened slightly and is trading at 1.1160. Today, economic data from the euro area are not expected, and the US will release data on unemployment claims. Economists predict that the number jobless claims in the US will grow to 241 thousand.
Growth in Germany, economy of which is the largest in the Eurozone, continues. Increase of world demand for German products stimulated the export and production sectors. The Federation of German Industry (BDI) predicts that Germany's economy will grow by 1.5% this year.
At its meeting last week, the US Federal Reserve said it would cut its balance in the near future. The Fed's balance sheet increased to $4.5 trillion after the financial crisis of 2008, when the bank began to stimulate the purchase of bonds to stimulate the economy.