European Data Spurs Optimism

Dollar and Euro Currency

A decent response to the Spanish bond auction yesterday and upbeat German business confidence data released earlier today has quelled some fears surrounding the Eurozone and has lent support against the majors. In the absence of major catalysts today, focus would be on the outcome of the G-20 meeting, wherein markets await clarity on contributions from various member countries. Across the Atlantic, macro indicators released yesterday disappointed investors across varied spheres including labour, manufacturing and housing, raising concerns over inherent sluggishness across sectors and fanning market speculation of QE3.

At home, following remarkable gains for Sterling during the week, data just out indicated that retail sales grew for March.

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European Data Spurs Optimism

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