The pair will continue its downward movement in the coming weeks. Brussels unleashed data from several reports this week. On Tuesday, July 28, one of Europe’s most hard-hit countries of COVID-19 released its Q2 unemployment rate. The figure came in at 15.33%. On the following day, it posted its retail sales report with a figure of -4.7%. Today, July 30, Germany, the EU’s economic powerhouse, released key reports for the country’s economic health. Germany’s economy contracted in Q2 by -10.1%. Its unemployment rate was stagnant at 6.4%. Meanwhile, the EU’s rate for unemployment was recorded at 7.8%. These reports suggest the bettering economic performance of the European Union. Despite this, however, the optimistic outlook for Denmark’s economy will outshine all positive data from the EU. The European Economic Forecast report shows Denmark being the second-best economy in the European Union for the year 2020.