The euro is on course for its fourth consecutive week of gains against the dollar and the yen this morning (August 7th), with forex traders optimistic about upcoming industrial output data from Germany.Speaking to Bloomberg, Tsutomu Soma, a bond and currency dealer at Okasan Securities in Tokyo, said that the euro will continue to trade favourably against the dollar if posts positive industrial output growth for a second month, as is expected."The outlook for the global economy, including Europe, is brightening," he commented.US data is also expected to show that companies cut fewer jobs in the country last month, leading the safe-haven dollar further downwards as traders move into riskier, higher yielding markets.The Aussie is also set for a fourth week of gains on this relaxed attitude to risk, while indications that the Reserve Bank will raise the cash rate has also offered support for a move into higher-yielding assets.The Bank's cash rate is currently set at three per cent, down 425 basis points since September.