Euro rebound 0.87% from 12 year low, to $1.06362 in 3:00 p.m. GMT+7, after Germany released CPI increasing by 0.9%. Inflation of France hit 0.7%, higher than economists’ forecast.
Yesterday euro dropped 2.28% , hit the 12 year lowest at $1.05412. Many people believe that this currency was oversold and it’s time to buy up.
Today U.S. will report data about Retail Sales and Jobless Claim of February. If these figures are better than forecast, showing the optimism of U.S. economy, the strength dollar may put continuing burden on the euro. Given no significant factors help supporting the euro, it cannot resist for long.