Majors

Majors: The Euro opens lower today at 1.3520 after declines in business and consumer confidence in Europe and the United States raised concerns about global growth. Global equities and commodities were also lower, dampening demand for currencies linked to economic growth. Business confidence in Germany declined for the first time in 11 months whilst the U.S. consumer sentiment index fell to 46 – the weakest level in 10 months and much lower than economists forecasts. The data backs up the recent comments from Federal Reserve Bank of San Francisco President Janet Yellen who said yesterday that the U.S. economy still needs “the support of extraordinarily low rates”. Meanwhile, the Japanese Yen (90.10) also rallied across the board.