Eurozone economic sentiment improved more than expected in May driven by higher confidence among consumers and industry managers, survey results showed today.
The economic sentiment index rose to 102.7 in May from 102 in April, the
Consumer confidence brightened in May, thanks to consumers' more optimistic assessment of all components of the confidence indicator. The index rose to -7.1, the highest since
The number of people out of work increased by around 24,000, the
Reversing from an early low of 0.8104 against the pound, the euro rose to a 1-week high of 0.8129 and held steady thereafter. The pair closed yesterday's deals at 0.8110. If the euro extends its uptrend, it is likely to find resistance around the 0.82 area.
The euro rose to an 8-day high of 1.2234 against the Swiss franc, from an early low of 1.2223. Yesterday's closing quote of the pair was at 1.2228. If the euro extends its uptrend, it is likely to find resistance around the 1.23 area.
A leading indicator of Swiss consumption edged down in April, although remaining at the second highest level since
The UBS consumption indicator came in at 1.72 in April, logging the second highest score since
The euro advanced to 1.4754 against the Australian dollar, from an early multi-day low of 1.4704 and held steady thereafter. The pair closed yesterday's deals at 1.4727. The next possible upside target of the euro is seen at 1.48.
The euro fell to a 5-day low of 138.64 against the yen, from an early high of 139.12 and held steady thereafter. The pair closed Tuesday's trading at 139.04. If the euro extends its downtrend, it is likely to find support around the 137.80 area.
Kuroda added that "Expectation management through communication with the market is critical to guiding the economy toward a recovery,".
The euro fell to 1.4779 against the Canadian dollar for the first time since
The euro dropped to 1.3616 against the USdollar, from an early high of 1.3638 and held steady thereafter. At yesterday's close, the pair was quoted at 1.3634. If the euro extends downtrend, it is likely to find support around the 1.35 area.
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