The euro remained on a good level of demand despite weak IFO reading over expectations, where traders in the currency market to engage in their favorite against the US dollar. IFO index of German economic confidence reading of 107.4 versus expectations read 108.2 while under current conditions in this indicator slightly to 111.3 versus previous reading at 111.4.
Very likely that the controversy about us budget last month, the negative impact on business confidence rates in Germany, the decline was relatively simple and the German IFO remains near highest levels, where conditions in the largest economy in the euro zone stable.
Never mind euro/dollars after news first and remained above the level of 1.3800 in Thursday morning European trading session, as traders continue to buy currency in light of expectations that the Fed will continue to bernammg quantitative easing until the beginning of next year. The euro currency continues to rise but market participants do not see any change in the monetary policy of the euro area.
We mentioned yesterday that Mario Draghi, Governor of the European Central Bank has remained apathetic in the strength of the currency in the last press conference of European Central Bank. Today the European Bank said "George asmosin" on this almo'kov the nominal and actual value of Ayers Rock (Uluru) is still within the trading range was not seen in the last 10 years. The remarks came despite some warnings from European companies that the high euro exchange rate may affect the rhabhithm of the future.
In Britain today, gross domestic product (GDP) for the third quarter reading of 0.8% and is the best reading this year. The support of the GDP of the construction sector, which has seen rising to 2.5% from 1.9% in the second quarter. British economic recovery shows real momentum as State bonds is expected to continue to grow at this rate until the end of the year.
The British pound saw a slight rise after the news, but remained below the level of 1.6250. The pair continues to suffer the highest levels of time, where he faces strong resistance at 1.6300. At the same time, the pair stood well above 1.6000 and enable this level of continuity in his uncle might be able to pound from rising to the highest levels of yearly during the next few days.
In the meeting Thursday, durable goods will be announced for the American reading of consumer confidence index from the University of Michigan. And it is not expected that any of these reports influence on trading, where technical factors may have a greater impact on the market today from any fundamental economic factors.
