During early Asian trading this morning the euro climbed to a 2-day high against the US dollar, due to an increase in investors’ risk appetite after surprise German and US data released yesterday. German economic sentiment improved in March, defying economists' expectations. The Mannheim-based Centre for European Economic Research, or ZEW, said its economic sentiment indicator for Germany rose 2.3 points to minus 3.5 in March, the highest since July 2007. It also marked the fifth consecutive month of increase. Economists had forecast a decline to minus 8 from minus 5.8 recorded in the previous month. However, the indicator is still below its historical average of 26.2.
Consumer confidence in the United States improved last week, but remained in negative territory overall, according to survey results released yesterday by ABC News and the Washington Post.
In the UK Bank of England minutes, ILO Unemployment Rate and Jobless Claims change data will be released at 09.30 GMT. In the US, Consumer Price Index will be announced at 12.30 GMT. The Fed Interest Rate decision will take place at 18.15 GMT today.
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