German Confidence Drops Due To Euro Heavy Fall

Rate Range Projection by Bank

Next week 101.00- 102.50

Next 3 months 100.00 - 105.00

The single currency was set for its third weekly decline versus the greenback amid concern euro-skeptic parties will gain ground in elections for the European Parliament. Sweden’s krona tumbled to the lowest level since November versus the dollar after a report showed consumer and business confidence trailed predictions.

The Canadian dollar rallied as inflation accelerated in April. Indonesia’s rupiah had the biggest weekly loss this year as the election race tightened. The euro dropped to a three-month low as the Ifo institute’s gauge of German business confidence fell, adding to signs that may prompt the European Central Bank to boost stimulus as soon as next month.