01, July 2013

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

Stocks grew after the release of positive economic data and comments of representatives of management of the Federal Reserve System on Thursday. The members of the Federal Open Market signaled that the central bank is likely to stick to a loose monetary policy until the economy once again become strong.

The Stoxx Europe 600 index rose by 0.7%, as in Germany unexpectedly reduced the number of applications for unemployment benefits. The German DAX 30 rose by 0.6%.

The European Commission and the European Parliament agreed on the EU budget for 2014-2020, which will amount to 960 billion euros. This is the first budget that is lower than the financial framework.

After the announcement, the President of the European Commission Jose Manuel Barroso confirmed that the spending plan will include 6000000000 euros to boost youth employment and support small business in Europe.