Euro 1 week visit to a new high against the dollar on German survey * Yen up; dollar slides across the board * Pounds belonging to the British economy shrinking in the first quarter (repeat, additional comments; changes in a signed, Date Line, the former London) Xinhua News Agency, New York 4 24 - the fourth day of the euro against the dollar last Friday to close at one-week high after better-than-expected German business confidence survey is to promote the euro-zone economy may be bottoming. Decline in U.S. demand to ease the extreme risk-averse. In European stock markets opened higher prices and Wall Street. Risk aversion to promote the U.S. dollar recently. The euro zone single currency also climbed to a two-week high against the pound sterling, as data showed the British economy contracted by the largest amount of its 30 years of the first three months of the year, to suppress the pound. Euro gains have been widely reported that Germany's IFO business climate index rose to 83.7, April 82.2 The March, exceeding the 82.3 expected, and the current situation and the expectations index also rose. The euro managed to break and hold a number of critical levels, said Davis, director of foreign exchange in Toronto, RBC Capital Markets. Money has been oversold for some time now and with better-than-expected data, support in the region, it is possible to further improve storage. Other analysts pointed out that the expansion of the euro to recover this week from the one-month low touched on, the information provided, some good news on the euro, which is suffering an additional rate cut speculation that the limited scope of the euro-zone economy may hinder. A series of economic data, given the recent signs of an initial improvement, the figures last Friday showed that consumer spending growth in France is far more than expected in March. In early trading in New York, the euro against the one per cent, to close at 1.3273 U.S. dollars, not far from an earlier intraday high of 1.3285 U.S. dollars, its highest in a week. Against the pound sterling, up from 1 to 90.2% ¡ð pence, according to Reuters data. Red blood cells, Davis said the key to the next level, the euro was 1.3362 U.S. dollars in monetary management to maintain, if income is higher than the market, traders may push through the 1.35 U.S. dollars as soon as possible. The view is that the pace of the slowdown in the region has started to diminish, he said. If you combine in order to further improve the stock, investors will be more willing to take higher risk positions, which will hurt the dollar. European Central Bank Governing Council member Ewald Nowotny said last Friday, there are indications that the U.S. economy has bottomed out, and that Europe will reach the lowest point this year. Investors are waiting for developments in the current meeting, the Group of Seven finance ministers in Washington, they discussed the global economic crisis. U.S. 1%, to close at £¤ 97.06, earlier touching £¤ 96.65 the lowest since the end of March. Widespread concern in the Japanese yen rose to U.S. pressure test on the banks and the fate of the American Automobile Manufacturers are encouraged by the investors to seek the feeling of security, the Japanese currency. A wide range of weak U.S. dollar index fell to 84.734, the lowest since mid-month. Analysts said a weaker U.S. dollar more may be in a store, if the index ended the week the key 85 level. Sterling against the U.S. dollar fell to 1.4744 percent to 0.2 dollars, struggling after data showed the British economy contracted by 1.9 the main engine of growth, from the previous 3 months, far exceeding the 1.5 percent decline in 1979 forecast and the largest contraction since.
|
You are here:Forex Home
-> Forex Trading
-> Content
Category: Home
-> Forex Trading