07 March 2011 11.46 GMT
It’s been a good start to the week for the euro! The common currency has reached 4-month highs against the US dollar this morning on reports that EU investor confidence increased this month.
Confidence in the EU hit 17.1 according to data released today through Sentix ahead of forecasts of 16.7 and the 17.1 figure reached last month. This is the highest reading since September 2007.
Following the release the euro climbed to $1.40 against the US dollar – the highest point since November last year.
The euro has climbed steadily on the exchange markets in the last week following hints from ECB President Jean-Claude Trichet that he might increase EU interest rates in April.
He is expected to repeat these sentiments in a speech today, and this could further cement confidence in the euro.
Sources
Candice Zachariahs, ‘Euro Near 4-Month High Versus Dollar Before Confidence Report,’ Business Week, 07 March 2011.
RTT Staff Writer, ‘Eurozone Investor Confidence Rises Again,’ RTT News, 07 March 2011.
Jeff Black, ‘European Sentix Investor Confidence Increases to Three-Year High,’ Bloomberg, 07 March 2011.
7 March 2011
EU Investor Confidence Hits 4 Year High
07 March 2011 11.46 GMT
It’s been a good start to the week for the euro! The common currency has reached 4-month highs against the US dollar this morning on reports that EU investor confidence increased this month.
Confidence in the EU hit 17.1 according to data released today through Sentix ahead of forecasts of 16.7 and the 17.1 figure reached last month. This is the highest reading since September 2007.
Following the release the euro climbed to $1.40 against the US dollar – the highest point since November last year.
The euro has climbed steadily on the exchange markets in the last week following hints from ECB President Jean-Claude Trichet that he might increase EU interest rates in April.
He is expected to repeat these sentiments in a speech today, and this could further cement confidence in the euro.
Sources
Candice Zachariahs, ‘Euro Near 4-Month High Versus Dollar Before Confidence Report,’ Business Week, 07 March 2011.
RTT Staff Writer, ‘Eurozone Investor Confidence Rises Again,’ RTT News, 07 March 2011.
Jeff Black, ‘European Sentix Investor Confidence Increases to Three-Year High,’ Bloomberg, 07 March 2011.