Euro hits two-month maximum on positive German sentiment data

Euro hits two-month maximum on positive German sentiment data

On Monday, the common currency reached a two-month maximum against the evergreen buck and held firm versus other key currencies due to firm German business confidence as well as reduced anxiety as for political instability in Europe's leading economy.

The euro hit $1.1929, a bit changed from late American level demonstrated the previous week having reached a peak of $1.1946, which is its highest value for two months.

The euro is currently facing a test level at $1.1965. Obviously, the given level appears to be the 76.4% retracement of its sag from a 2 1/2-year maximum of $1.2092 showed on September 8 to a 3-1/2-month minimum of $1.1553 reached on November 7. The major EU currency has earned 3.2% from that minimum.

The common currency tacked on to 133.24 yen, which happens to be its highest outcome since November 16. It managed to firm on the UK currency to 0.8978 pound, soaring to almost this month's high of 0.9014.


Can the UK CPI surprise?
Can the UK CPI surprise?

The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.

The US Retail Sales Update
The US Retail Sales Update

The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.

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