Investors are currently searching for a new safe haven currency as the USDs position is being questioned due to the strain on the US economy and the resulting stimulus packages. At the same time the Swiss Central Bank is getting worried about the export industry and has announced the probability of interventions to weaken CHF.
The short term appreciation of the USD after yesterday’s liquidity injection was negated today, and EURUSD cross has set a new all time high of 1.55019. It will be interesting to see whether we get a break of resistance, in which case we can easily see EURUSD trading above 1.6. to be updated&#
Sentiment among German financial analysts and institutional investors unexpectedly brightened in March, but remained at historically low levels, a survey from the Center for European Economic Research, or ZEW, showed Tuesday. The ZEW think tank’s economic expectations index rose to -32.0 points from -39.5 points in February, beating economists’ forecasts of a reading of -40.0
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