The euro against the dollar on Tuesday, straighten up
During yesterday morning to defend the euro higher profits worse data from Germany and the euro area as a whole (ZEW). On the other hand, the U.S. data has been improved. Industrial production in March increased by 0.4% month on month and exceeded market expectations.Capacity utilization in industry has increased by 0.2 percentage points to 78.5%. New home sales also confirmed that the U.S. real estate market is in a recovery phase. Upward trends are also building permit, despite a decline in March. However, inflation data for March showed that the U.S. central bank with the end of quantitative easing may not quickly rush. Our colleagues from SG still expect the Fed will end this policy at the end of the year.
Today will be the poorer interesting data. In Europe, we will see the publication of new car registrations. Already published data for Germany does not inspire great optimism and confirm gloomy prospects for the automotive industry (in Czech Republic). Next we will see the February construction. The USA will be published only mortgage applications.From the perspective of the market it is more secondary data. Markets will be interesting to the G20 meeting, which begins in Washington on Thursday (they will discuss the economic perspective and the financial markets crisis in Cyprus, etc.).
Author: Jiri Skop
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