Euro Stays Above 1.18 Level
The euro gained 0.11% today and is trading at 1.1806 level. Last week, the euro broke the level of 1.19, which is the highest since January 2015. In the past few months, the euro has remained strong, and the euro/dollar pair has increased by 10.7% since April 1.
Germany's trade surplus increased in June, as the decline in imports was greater than the drop in exports. The Germany's trade surplus increased to EUR 21.2 billion.
The strong US economy continues to struggle with low inflation, which also affects the labor market. Despite the fact that the unemployment rate has dropped from 4.4% to 4.3%, wage growth remains weak. The average hourly earnings remained unchanged at 0.3% in July.