FX & CFD trading involves significant risk
The euro exchange rate fluctuates against the dollar after European Central Bank lowered margin requirements for banks. At the same time, German Chancellor Angela Merkel said that the direct funding of banks violate the terms of the contract for the region.
Also on the depreciation of the euro affected the business climate index data in Germany. As it became known that the business sentiment in Germany decreased for the second consecutive month. In June the figure had fallen to its lowest level over the past two years, due to the fact that Europe's largest economy is experiencing the consequences of the debt crisis of the euro zone.
The data of this indicator was added the fear that the German economy is losing stamina and, perhaps, will reduce the level of GDP in the second quarter. Other data also point to a recession. Industrial activity is on the low level for the past three years.
The yen fell as the Japanese Lower House lawmakers prepared to vote for a bill that increases the sales tax by half.
The Canadian dollar rose after official data showed that the rate of inflation in Canada in May showed the slowest pace since June 2010, which was caused by the reduction of energy consumption and maintenance of the central bank of low-level production and rising prices.
All posted material is a marketing communication solely for informational purposes and reliance on this may lead to loss. Past performance is not a reliable indicator of future results. Please read our full disclaimer.