020 7898 0500The euro pushed higher against the US dollar and sterling on Tuesday after ZEW German business confidence data showed that economic sentiment had improved to the highest level in 13 months throughout March – however, a report on inflation in the Eurozone balanced out any real gains for the single currency. The ZEW business data said that German economic sentiment rose by 1.8 points to 54.8 this month in comparison to February’s figure of 53.0.
Today we have trade balance data out at 10am but otherwise a quiet day in terms of releases for the single currency. Therefore all eyes will be on this evenings Federal Reserve statement and how this will affect the euro. Many will be watching to see if the US is willing to be “patient” before raising rates or give a signal that it is ready to increase interest rates sometime soon.
