By
iForex |
Technical Analysis | Jan 28, 2011 11:08AM GMT |
Yesterday proved to be a positive day for the 17-nation currency as a result of the increase in business sentiment. Further comments from a board member of the European Central Bank gave rise to speculations that there could be an increase of interest rates in the near future. Inflation, according to the ECB, can no longer be overlooked. Analysts believe the currency’s price increase is also due to the fact that investors are again attracted to the riskier European monetary units and they’re no longer seeking others like the Yen. The continent’s consumer confidence dropped, though it was slightly higher than last month. Data did however indicate an improvement in business sentiment, rising from 1.38 to 1.58.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data .
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.