Is Euro Corrective Weakness Behind Us Already? |
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A stronger-than-expected German IFO business climate index lifted Euro to a three-week high against the US dollar Wednesday. The headline index came in at 103.5 in May from 102.4 in April, versus a 102 forecast. An indicator measuring expectations for future business rose to 97.3 from 96.7. IFO said today that “the downturn in the German economy will be rather moderate” and “we will see at least 2% growth this year”. German Economic minister Glos said today that the recent surge in German IFO
Filed under: Fundamental
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