Euro Sees Modest Recovery Amid Improved Economic Sentiment, Canadian Down after CPI - Action Forex
Euro rises broadly today, lifted by significant improvement in economic sentiment indicators from Germany and the broader Eurozone. Despite these positive signals, current situation assessment remains subdued. While the worst may be over for Germany's economy, in particular the manufacturing sector, recovery is still in its nascent stages and further nurturing is required. The uptick in Euro is more likely a corrective move rather than a definitive trend reversal, given the overall weak momentum of the common currency.
Euro rises broadly today, lifted by significant improvement in economic sentiment indicators from Germany and the broader Eurozone. Despite these positive signals, current situation assessment remains subdued. While the worst may be over for Germany's economy, in particular the manufacturing sector, recovery is still in its nascent stages and further nurturing is required. The uptick in Euro is more likely a corrective move rather than a definitive trend reversal, given the overall weak momentum of the common currency.
