Currency Note Euro

Will German business confidence sentiment support the euro

By Ricky Bean September 17th, 2013

The euro pushed up yesterday to nearly a 3 week high against the US dollar and whilst this was mainly down to US dollar weakness, it is also a sign that the markets seem to have put to one side the “euro-crisis” for now. News from the Eurozone was pretty flat with CPI figures coming in as expected at 1.3% and in line with last month’s result. With the reading coming in beneath the ECB’s targeted 2% it could be a sign that the Euro zone is hitting a period of stability. The German stock markets rallied to record highs on the back of reduced Syrian tensions following the US/Russian talks over the weekend. Today we have only one data release from Europe in the form of the German ZEW Business Confidence sentiment, a poll from 350 German institutions and their 6 month outlook for Europe’s largest economy. Call in now for the latest news on the euro.