Currency Note Euro

Business confidence in the Eurozone rises

By Ricky Bean November 20th, 2013

German economic sentiment has risen for the fourth consecutive month with data released yesterday showing confidence has reached the highest level in four years. Furthermore, confidence in the Eurozone as a whole also rose; but, by less than anticipated, dampening any chance of a significant euro rally on the back of the German figures. The euro did gain some momentum, seeing strong gains against the Japanese yen following comments from one of the ECB board members who seemingly ruling  out the use of further quantitative easing or implementing negative rates to boost growth in the seventeen member state region. First thing this morning we saw inflation data from Germany; but, little else is due to be released from the Eurozone today. Call your trader now for a live update on the market.