The euro was rising against the dollar Tuesday, in a market with very
etiolated volumes due to summer holidays, as investors await the publication of
a series of statistics in the U.S. and the euro area to get an idea of the
health of the global economy. Around 0600 GMT, the euro bought 1.2358 dollars, against 1.2333 dollars around 2100 GMT Monday.
The euro also gained ground against the yen at 96.93 yen against 96.63 yen late Monday.
The dollar also rose against the Japanese currency to 78.43 yen against 78.32 yen Monday.
Strengthening of the euro against the dollar following a bond encouraging in Italy and less than expected contraction of gross domestic product in the second quarter of 2012 Greek, traders noted.
The Italian Treasury has borrowed billions of euros Monday to one year at rates vary slightly higher,
reflecting the persistence of tensions in the debt market in the euro zone, but constituting an encouraging result given the demand, supported, for these bonds.
As for Greece, she recorded a decrease of 6.2% of its GDP on a year in the second quarter, against 6.5% in the first quarter.
Optimism is also still supported by hopes that the European Central Bank (ECB), the U.S. Federal Reserve (Fed) and the Chinese central bank further relax monetary policy to promote growth.
Traders also analyzed the figures on growth in France and Germany, published early Tuesday.
The German economy grew by 0.3% in the second quarter, better than expected. Growth in France has it, was zero over the same period compared to the previous quarter, which still allows the country to narrowly avoid a recession.
Other statistics will be published during the session: the first estimate of euro area GDP in the second quarter, the ZEW barometer of confidence in financial circles and the German producer prices for June in the United States.
Sales figures to detail in the U.S. on Tuesday as planned will provide an indication of the strength of the world's largest economy.
Faced with this avalanche of indicators, the euro could again be under pressure, said Masafumi Yamamoto, currency chief strategist at Barclays Capital, while still concerns about the implementation of austerity measures to fight against the crisis the euro area.
Around 0600 GMT, the British pound fell against the euro at 78.75 pence but rose against the greenback at 1.5694 dollar.
The Swiss franc fell back, her slightly against the euro at 1.2013 Swiss francs to the euro but rose against the dollar at 0.9720 Swiss francs to the dollar.
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