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Euro – European Markets

The uneven nature of recovery in Europe was once again highlighted yesterday, as data showed that German investors’ sentiment dropped for the fourth consecutive month for April, weighed down by persistent Ukraine conflict. However, current conditions in Germany continued to improve and Euro zone trade surplus climbed more than expected for February on the back of an increase in exports. Meanwhile, a mixed set of macroeconomic reports released in the US lent some support to the common currency against the US Dollar in yesterday’s trading session.

The Euro is trading on a firmer footing against most of its major counterparts this morning. With inflation data released earlier this month from most of the region’s peripheral economies confirming an easing trend, today’s Euro area inflation data is likely to have a similar inclination. However, as emphasised by the ECB Chief, Mario Draghi, in his comments earlier this month, the importance of Euro area inflation data for April, today’s report is unlikely to alter investors’ sentiment. Also, a barrage of macro data in the US will keep market participants interested.

Sterling data this morning has lifted the pound and 1.20 for a reasonable sum is achievable.

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