On Friday, The Euro reached 1.3622, its highest rate in a month against the US Dollar, after reports showed a decline in the unemployment rate and an advance in the inflation rate, thus increasing the investors expectation for a sooner than expected interest rate changes. The Euro declined later, closing at 1.3591, just below the support level at 1.3595
In the first week of December, investors will be focused on the economic data scheduled to be released in the Eurozone and the US:
PMI Index that is scheduled to be released on Monday, December 2, 2013.
Final Services PMI in Germany and in the Euro zone for November, the Eurozone preliminary GDP quarterly and yearly data, the Euro zone retail sales on a monthly and yearly basis and the Existing Home Sales in US for September and October are all expected to be released.
On Thursday, the ECB will be deciding about its benchmark interest rate, while in the US a report about the initial jobless claims for the week that ended on November 30th, together with preliminary quarterly GDP data that will be released.
On Friday, December 6th, a report about the US unemployment rate will be released. Better US results may provide support to greenback’s demand.