Euro higher after German Business Climate figures

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Monday, Jul 27 2015

German Business Climate rose to 108.0 points in July. Analysts were predicting smaller incline to 107.6. Separate report showed that the annual growth rate of the broad monetary aggregate M3 stood at 5.0% in June 2015, unchanged from the previous period, averaging 5.1% in the three months up to June.

The components of M3 showed the following developments. The annual growth rate of the narrower aggregate including currency in circulation and overnight deposits (M1) increased to 11.8% in June, from 11.2% in May. The annual growth rate of short-term deposits other than overnight deposits (M2-M1) stood at -4.3% in June, compared with -4.2% in May. The annual growth rate of marketable instruments (M3-M2) decreased to 0.6% in June, from 4.8% in May.

Euro is currently being traded slightly above 1.11 handle. Pair is likely to find support around 1.1050 level and resistance above 1.1150 area. Later today, in the US session, Durable Goods Orders data was released.

More in this category: « China's industrial profits dropped 0.3% Sterling little changed in a quite European part of session »

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