During today’s early trading session, Asian stocks traded slightly up as Japanese shareholders are expected to receive higher returns on dividends later this week, however, gains were limited as Indices traded close to 15 year highs.
During the European session, the Euro traded higher against a basket of major currencies following positive German data. The German Ifo Business Climate Index showed a reading of 107.9, higher than the expected figure of 107.3. Traders are now awaiting a number of important economic events taking place tomorrow, including the Retail sales and Core retail sales, negative data could weaken the GBP in the short term.
During early U.S. trade, the Dollar weakened against a basket of major currencies following the release of negative data. The Core Durable Goods orders for the month of February showed a 1.4% decline, new orders were expected to rise by 0.3%, furthermore, the price of US Oil rose off the back of the weaker Dollar.
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