Euro dollar was down from yesterday’s levels (April 17th), shrugging off some sparkling economic confidence releases. The German Economic Sentiment posted a reading of 23.4, easily surpassing the market forecast of 19.7. Not be outdone, Euro-zone Economic Sentiment came in at 13.1, its best performance since May 2011. The markets remain wary about the fiscal situation in Spain. The country held a successful bond auction, raising the full target of EUR3 billion. However, the government’s borrowing costs have almost doubled, and concerns persist as to the ability of the government to meet its deficit reduction goals. In stateside news, US Building Permits rose to 0.76M, beating the market forecast of 0.71M. This marked the best performance by the indicator since October 2008.
Here’s an update on technicals, fundamentals and what’s going on in the markets.
Read the rest of the article [B][I][URL="http://www.forexcrunch.com/eurusd-april-18-economic-sentiment-releases-shine/"]EUR/USD April 18 - Economic Sentiment Releases Shine[/URL][/I][/B]
Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Any opinions, news, research, analyses, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. Forex Capital Markets LLC. will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.