A strong surge in US consumer confidence has seen the Euro to Dollar exchange rate extend its ECB-inspired downtrend.
The University of Michigan confidence index advanced an impressive 4.2 points, against predictions of a 0.7 rise to 94.5.
The Euro has been a poor option against the US Dollar today, but has the potential to claw back gains in the coming week.
latest movements for the Euro have been broadly disappointing for
foreign exchange investors, on account of low demand following the
European Central Bank’s (ECB) recent QE extension.
to the coming week, however, the Euro may be able to stage a recovery
against the US Dollar, given that Tuesday morning’s German ZEW survey of
current conditions is set to rise from 58.8 to 59.6.
Additionally, the economic sentiment index for December has an increase from 13.8 to 15.1 on the cards.
The euro (currency : EUR) was the poor relation of the currency exchange rate markets during a turbulent session on Thursday.