Market Overview

Three pushes for the Euro today

The single currency rose today to 1.0975 dollars, supported by several positive impulses.

The NBS has persistently defended the 1.05 EURCHF mark. Conversely, the markets are so sure of this that they jump from this mark.

Germany and France offered a 500 billion aid package for affected EU countries and sectors. Proposals from these the biggest economies in the Euro-region, as a rule, receive approval. This is a good step forward for Union’s economic recovery packages. Apart from this, the German ZEW Institute surprised with robust assessments of business sentiment. In May index was marked by a jump from 28.2 to 51.0 – the highest level in five years. Confident access to positive territory is a harbinger of accelerating economic growth. Appreciate the contrast: the assessment of current conditions is -93.5 with a theoretical minimum of -100. These are the lowest levels since 2003.

The FxPro Analyst Team

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