The exchange rate euro is falling today

Euro remains on the ground floor of the European problems

In brief: Eurozone begins to please good statistics from Germany and the euro continue steady decline.

Euro is the weakest one during last months. Eurozone new surprises. Business confidence in Germany rose in June to two-year maximum, because the weakening of the euro and the restoration of the world economy have improved prospects for exports. And no one even paid attention to the debt crisis, which terrified the whole world! Ifo Institute reported that the business climate index, based on survey of 7 thousand executives, rose to 101.8 PBC. against 101.5 in May.

This is the maximum value from May 2008. However, the consumer sector was not so optimistic. According to preliminary estimates, in June, the European consumer confidence remained near 9-month low against the fact that rising unemployment and financial crisis has overshadowed the outlook for economic growth. Index of consumer sentiment in the euro zone rose to -17.3 against -17.8 in May, as announced by the European Commission. Today on the agenda of data on business activity in manufacturing and services sectors. It will be interesting to see whether to confirm the performance dynamics, which have already informed the institute IFO. The next portion of positive indicators can bring back the demand for euros, with immediate aim will mark 1.23 and then 1.2350.

Igor Tringlers
2010-06-23 09:43, Currency news.

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