Euro Keeps Rising against USD on Improving Economic Outlook

The EUR/USD recent surge to a 1.1066 is viewed as a positive sign for the Eurozone's economic recovery, as it indicates increased investors’ positive assessment of the Eurozone's economic prospects despite known geopolitical fallouts and rising gas prices.

Euro rose yesterday 0.03% to $1.1024, getting more and more closer to its 5-month high of $1,1040 reached last week, while the pound sterling remained almost unchanged trading close to $1.2706 (at the time of writing it has advanced further and hovering around 1.2745).

The DXY Dollar index fell and traded near its 5-month low of 101.42 reached last week and was last at 101.34. Meanwhile, today’s report by Mastercard (MA) showed U.S. retail sales rose 3.1% between Nov. 1 and Dec. 24, greatly undershooting last year's 7.6% gain.