Contradicting News From Germany Fails to Stop Euro Rally
Very strong German economy posted some worrying results on Tuesday. According to Centre for European Economic Research, German Indicator of Economic Sentiment fell from 7.6 in April to 3.1 in May. Even though the index suggests that analysts are more optimistic than pessimistic about the German economy, traders will be worried by how far the index is from its historical average of 26.5. Falling index of economic sentiment in Eurozone's largest economy did not stop the euro from making further gains against the greenback and Japanese yen, however. At the moment, the euro is trading at 1.4191 against the dollar (up 0.212%) and 115.46 against the yen (up 0.937%).
Those traders that believe the Eurozone economy will continue to move ahead of its main rivals will be interested in CurrencyShares Euro Trust (NYSE: FXE), WisdomTree Dreyfus Euro (NYSE: EU) and iPath EUR/USD Exchange Rate ETN (NYSE: ERO).
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