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Euro higher in an uneventful Monday's session

Monday, Mar 09 2015
In a less eventful Monday's session Sentix Investor Confidence figures were released. Sentix Investor Confidence climbed to 18.6 points, its highest level since August 2007. But what is even more important is the continued strong improvement of investors’. 6-month expectations which show their highest reading since February 2006. This gives hope that this time the recovery is a more sustainable one enabling the euro zone to finally leave its recessionary tendencies behind. Germany remains the area’s growth engine. 
 
Earlier today, German Trade Balance figures were released. In calendar and seasonally adjusted terms, the foreign trade balance recorded a surplus of 19.7 billion euros in January 2015. However,analysts were predicting surplus of 20.4 billion euros. Exports fell by 2.1% and imports by 0.3% compared with December 2014. 
 
After huge decline last week euro gained at the beginning of this week and is currently being traded slightly below 1.09 handle. Pair is likely to find support around 1.0830 and resistance above 1.0950 area. Later today, there will be no major data releases so we can expect steadier rest of the session.
More in this category: « Aussie little changed in a steadier beginning of the week Sterling broke above 1.51 handle »

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