The Car Insurance : The Euro rode a strong industrial data supported Germany

New York (The Car Insurance)-the exchange rate of the euro higher against the dollar and the yen on Wednesday (Thursday morning GMT), after the industrial production report for Germany for March is surprisingly strong.

The Euro bought 1,3156 dollars on Wednesday 21.00 GMT (04.00 GMT Thursday), up from 1,3074 dollars on Tuesday afternoon, the AFP report.

The Euro traded at 130,25 yen, up from 129,47 yen the day before.

Dollar was slightly higher against the yen, it traded at 99,01 yen compared with 98,99 yen.

The market was encouraged by positive economic indicators Germany for the second day in a row. On Tuesday, data showed Germany's industrial orders rose unexpectedly in March.

On Wednesday, data showed that industrial production in Germany rose 1.2 percent in March, well above the 0.2 percent decline expected by analysts.

The result was "devastating", according to the forecast of the market Business Solutions Western Union.

"This caused traders flocked back to the euro during the session, as traders in London began to limit the decline in interest rates is likely thinking that has trailed the euro since the meeting of the European Central Bank (ECB) last week."

The Euro strengthened further amid news that Portugal managed to return to long-term debt market for the first time since acquiring the bailouts two years ago. Portugal brought together three billion euros in interest rates and interest 5,669 percent purchased more than 10 billion euros.

Meanwhile, the u.s. economic calendar has left investors with little new news the dollar against other currencies.

"Looking ahead, further signs that the u.s. economy grew at a better speed than expected will continue to support the dollar," said Omer Esiner, Chief market analyst at Commonwealth Foreign Exchange.

"But in the short term, the lack of data or news to trade the greenback could maintain a little lower."

United Kingdom Pound traded at 1,5536 dollars, up from 1,5482 dollars on Tuesday afternoon.

The dollar was trading at 0,9352 francs, down from Switzerland 0,940 francs. (A026)

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Rejection Of The DPJ Supported The Appreciation Of The Yen

Monexnews-Yen traded strengthened against most of its major rivals after Japan's largest opposition party said it will oppose the nomination of Kikuo Iwata, which pro-aggressive, easing policy as Deputy Governor of the BoJ. The main opposition party, the Democratic Party of Japan, said that the rejection of the proposal to revamp the Iwata related legislation of the central bank, which will allow the Government to better control the setting of the policy.

While the term of the Governor of the Bank of Japan today, Masaaki Shirakawa, along with His 2 will end on March 19. Even without the support of the DPJ, Iwata is still likely to occupy positions as Deputy Governor of the BoJ if PM Shinzo Abe was able to gather support votes from opposition parties. (vid)

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ZEW Data Supported The Euro Appreciation

Monexnews-the Euro strengthened versus the U.s. Dollar after the ZEW sentiment index shows the data analysts and investors Germany surged to the highest level since April 2010 in February. However, the appreciation of the Euro still seems to be limited by worries ahead of the elections in Italy on 24-25 February, potentially hampering the country's reform efforts. Traders also seem wary of any expression of concern about the eurozone officials are strengthening of the currency, which can overload the Euro again.

"There is risk aversion to hold long position ahead of the election that Italy Euro has important consequences in Europe. The split and the uncertainties of coalition will impact very negatively for Euro/Dollar, "said Peter Frank, a forex analyst with BBVA. (vid)

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The Impact Still Strong Chinese Import Data Supported The Oil

Monexnews-U.S. crude Contracts moved up in thin early trade Asian session, building optimism Friday after a request from China lifted in January. Brent oil contract was moving up over $ 120/barrel to its highest level Friday since May. The Data showed a rise in crude oil imports in January by as much as 7.4% per year and the 6.3% per month.

"Although there was a rise in crude oil imports which is quite memorable, soaring imports of consistently moving along with the refinery's capacity in China, with about 540,000 barrels per day in the final quarter of 2012," ANZ said. WTI-Brent contract rose $ 1.70/barrels a day last Friday and currently at $ 23. NYMEX oil contract for March rose 5 cents at $ 95.77 a barrel; the brent contract for March rose 7 cents at $ 118.97.

(AR)

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