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Yesterday the euro continues to decline in the dollar and yen, despite the figures exceeded expectations of confidence of investors and analysts to the German economy and the euro zone.
Index of investor and analyst expectations for the economy in Germany for the next six months (confidence index) calculated by research institute ZEW, rose in September for the first time in 5 months - to minus 18.2 points from minus 25.5 points in August. However, the value of the indicator remains negative, which is not inspired investors. Index of investors and analysts to the current situation in the German economy in September, down from 18.2 points to the lowest since June 2010, 12.6 points. Analysts on average forecast a rise of the first indicator to minus 20 points and the second reduction to 18 points. Overall, for the euro area index was -3.8 -16.3 points at the forecast.
Also it was announced that Spanish borrowing costs fell at auction, the first once since the European Central Bank on September 6, announced plans to buy government debt in the region to contain borrowing costs.
The demand for the yen is still limited due to the forecasts, the Bank of Japan will take an intervention after a meeting on September 17-18. More active than an intervention, investors expect the Bank of Japan's new measures to support the economy after the Federal Reserve and the European Central Bank.
The Bank of Japan increased the size of the fund to buy assets such as government debt by 5 trillion yen to 45 trillion yen in July, and continued to hold the interest rate at around 0.1%, which was established in October 2010.
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