The European Central Bank published its monthly report showing the total change in M3 Money Supply as well as in private loans, which caused a modest fall in the EUR/USD exchange rate. A decrease was initially offset, suggesting stronger bullish sentiment for the Euro, which held the pair above the 1.1930 level in the early Monday’s session.
The ECB released its monthly figures on the amount of money in circulation. According to the Central Bank’s report, the M3 Money Supply dropped 4.5% on an annual basis over the course of July, following the prior month’s 5.0% and missing forecasts for a decline of 4.9%. However, private lending grew 2.6%, matching the previous month’s pace, providing an additional bullish signal for the future of the EU economy.
