Euro kept strong after European market news

Tuesday, 6 December 2011 07:19

Despite the move made by S&P yesterday about putting 15 euro countries on credit watch Euro kept strong against dollar.

The cause of that might be data presented today showed an increase in German factory orders in October. Index grew after September’s decline 4.6%. It is the higher reading since March 2010.
Orders rose to 5.2% highly exceeding expectations of 0.7% growth.

We also learned that the third quarter Gross Domestic Product in euro-zone ideally covered the expectations of stable 0.2% growth.

Good for Euro were also news about Swiss CPI, that ended falling 0.2% instead of expected 0.1% increase in November.