Euro appreciates on German business confidence

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Source: Reuters
17-nation currency recovered on Tuesday after European finance ministers agreed to provide extra funding worth $195 bn through IMF. Euro appreciation was also fuelled by unexpected rise in German business confidence. European common currency gained 0.3% against US dollar, reaching $1.3040. Currently EUR/USD is trading at $1.3079.
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Wed, 21 Dec 2011 08:02:43 GMT

Asia markets up on global hopes

Asian stock markets experienced a sharp increase on Wednesday led by resource firms and exporters, as investors regained optimism about the global economy outlook. China's Shanghai Composite rallied 0.4%, Hong Kong's Hang Seng Index rocketed 1.6% while Japan's Nikkei Stock Average jumped 1.4%. Australia's S&P/ASX 200 index advanced 2.1% and South Korea's Kospi rallied 3.1%. 

Tue, 20 Dec 2011 13:33:53 GMT

Business confidence index in Germany unexpectedly rises

Germany's business confidence surprisingly surged in December for the second consecutive month, indicating the country is coping well with Eurozone's debt crisis. Business climate index, estimated by Ifo institute advanced from 106.6 in previous month to 107.2 in December. Economists surveyed by Bloomberg predicted a decline to 106. Reading show German firms do not believe in worst crisis scenario, said Alexander Koch, UniCredit's economist in Munich.

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