Forex News: Euro Higher Against Majors

Euro Higher Against Majors

(RTTNews) - The euro climbed against its major counterparts in the New York session on Thursday, as upbeat earnings from Google parent Alphabet lifted tech shares.

Alphabet's second-quarter earnings and revenue exceeded expectations, driven by growing demand for its Cloud products and services.

The European Central Bank decided to keep interest rates unchanged.

The ECB maintained the deposit facility rate at 2 percent, the main refinancing rate at 2.15 percent and the marginal lending facility rate at 2.4 percent.

Eurozone private sector activity accelerated in July, with the composite PMI increasing to 51.0 from 50.6.

The euro climbed to more than 2-week highs of 1.1788 against the greenback and 0.9363 against the franc. The euro is seen finding resistance around 1.20 against the greenback and 0.95 against the franc.

The euro advanced to a 2-day high of 172.92 against the yen and a 3-1/2-month high of 0.8710 against the pound. The currency may find resistance around 175.00 against the yen and 0.89 against the pound.

The euro firmed to a 2-week high of 1.6059 against the loonie. If the currency rises further, it is likely to find resistance around the 1.62 level. The euro recovered to 1.9488 against the kiwi and 1.7840 against the aussie, from an early low of 1.9408 and a 10-day low of 1.7750, respectively. The currency is poised to challenge resistance around 1.97 against the kiwi and 1.81 against the aussie.

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