The euro began appreciating yesterday and marked a week's maximum at 1.2461 against the dollar. By midday the trade balance and industrial production in the U.K. pushed the pound lower against the dollar. The euro also depreciated due to a weak German industrial production and lurched at about the 1.237 against the dollar. In American trading the single currency lost from 1.2405 to 1.2317 when closed, in Europe closed at 1.2312. Today the American trade balance is released. The figures may be negative, the question is how much. The rate EUR/USD was at 1.230 in the morning and should stay in the range of 1.22-1.24.
ČSOB - Investment Research