The Euro is rising against the US Dollar following the rise in German consumer confidence in August.

[RTFX-Trading]

The Euro is rising against the US Dollar following the rise in German consumer confidence in August.

After touching 1.4172 last night, the lowest in Asian Trading, the EURUSD has risen to 1.4256, close to the first daily resistance. Consumer confidence in Germany has improved to reach its highest level in over a year. The GfK index, which is a survey of 2,000 German households, is up to 3.5 for August, much better than market expectations. The slowdown of inflation in Germany makes consumption easier according to the survey.

Nicolas Longchamp
RTFX Ltd
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