Eurozone looks up
The purchasing manager index for services rose to 45.6 in the eurozone while the manufacturing sector index climbed to 46.0. Markets viewed these figures as positive as both the indices edged higher to 50, the mark which separates positive figures from negative.
European stocks have rallied for the 10th consecutive day, their longest stretch since 2006 and this week the Euro exchange rates have retained support above 1.42 against the US dollar. The euro has made further gains against the pound as German consumer confidence rises and UK GDP contracted more than expected in the second quarter.
The current euro exchange rate is USD1.4231 and GBP0.8645.
The rates quoted above are interbank rates. Client rates may vary according to the volume and timing of the trade.