The euro climbed against the dollar as an unexpected surge in German business confidence outweighed concern that some European banks may fail stress tests today. The Ifo institute indicated its business climate index jumped after a report showed the U.K. economy grew almost twice as much as forecast. The data indicates Germany’s recovery has gathered pace in the second quarter as factories stepped up production to meet global demand.
The Canadian dollar fell versus the USD as a government report showed the annual inflation rate slowed in June which reduces the pressure on the Bank of Canada to raise interest rates later this year. The Australian dollar traded near a two month high as concerns faded over Europe’s debt crisis before the region’s regulators release the results of bank stress tests.
Today's Opening Rates (Mid-Rate) (as at 08:30 E.D.T.)
| EUR/USD | 1.2865 | USD/JPY | 86.90 | GBP/USD | 1.5454 | USD/CHF | 1.0446 |
| USD/CAD | 1.0401 | AUD/USD | .8960 | NZD/USD | .7234 | EUR/GBP | .8403 |
| USD/PLN | 3.1588 | USD/MXN | 12.746 | USD/DKK | 5.7774 | USD/SEK | 7.3123 |
Equity Indices (as at 08:30 E.D.T.)
| Dow Jones | 10,322 | FTSE | 5,299 | Nikkei | 9,430 |
| ISEQ | 2,937 | NASDAQ | 2,245 | |
Indicative Opening Deposit Rates
| Time Period |
$ Deposit |
Euro Deposit |
| 1 Week |
0.40 |
0.29 |
| 2 Week |
0.40 |
0.29 |
| 3 Week |
0.40 |
0.29 |
| 1 Month |
0.32 |
0.36 |
| 2 Month |
0.40 |
0.29 |
| 3 Month |
0.55 |
0.61 |
| 6 Month |
0.75 |
0.93 |
| 9 Month |
0.80 |
1.08 |
| 12 Month |
1.00 |
1.22 |
This week we will focus on
• Economic Indicators
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