Hi
The Euro (EUR) rose to a fresh two year high on the back of weak CPI data out of the US. The Euro also found some support on the back of a positive trade balance coming in at -1.7 bln (Forecast: -5 bln) even though the previous was revised higher at -7 bln. In other data, the German ZEW survey also came in stronger than expected at 16.5 yet did little to move the currency any higher. Overall the Euro traded with a range of low 1.3525 and a high of 1.3595 before closing at 1.3564 in the New York session.
The Euro (EUR) rose to a fresh two year high on the back of weak CPI data out of the US. The Euro also found some support on the back of a positive trade balance coming in at -1.7 bln (Forecast: -5 bln) even though the previous was revised higher at -7 bln. In other data, the German ZEW survey also came in stronger than expected at 16.5 yet did little to move the currency any higher. Overall the Euro traded with a range of low 1.3525 and a high of 1.3595 before closing at 1.3564 in the New York session.
