Euro Gains Due to Positive Global Data

The Euro gained against most of its major counterpart currencies due to encouraging global economic conditions.

EUR/USD
The EUR/USD pair went up by over 100 pips reaching at 1.274 levels during early trading hours. The pair closed at around the 1.268 level.
The Euro soared by about 100 pips against the Great British pound and it gained about 50 pips against the Japanese yen.

The Euro strengthened yesterday as economic indicators published from the U.S. and the Euro-Zone have put down to rest the concerns about the global economic slowdown.

Home Prices in United States

Report showed that the U.S. home prices in 20 cities increased more than expected in June as compared with the same period in last year.
U.S Consumer Confidence Survey
The U.S Consumer Confidence survey  rose for the first time in three months.
Euro-Zone
The data published by the Euro-Zone was also positive. The European Consumer Price Index Estimate reflected that inflation in the Euro-Zone has gone up by 1.6%, according to expectations.
The increase in the rate of inflation in Euro-Zone is an indication that the European economies are recovering, although at a slow pace.

The positive global economic data has affected the risk-aversion by the investors in the market, and now the investors are looking for the more risky assets like Euro. As per analysts the further economic recovery may further strengthen the European currency.