World Economy

Euro Trading Higher

Euro Trading HigherEuro Trading Higher

The euro rose 1.59% against the US dollar on and closed at 1.1284 late Monday, as Germany’s industrial production data surpassed market expectations, reported. Data released indicated that industrial production in Germany rebounded 0.90% on a monthly basis, posting its biggest gain in 2015 and beating market expectations for a rise of 0.60%. In the previous month, industrial production had dropped by a revised 0.40%. Other economic data showed that the nation’s seasonally adjusted trade surplus narrowed to €22.10 billion ($24.9b) in April, from a surplus of €23.10 billion in March, albeit markets were anticipating a trade surplus of €19.40 billion.