Euro Gains against Major Currencies after Good Business Climate Results from Germany

The euro is trading higher against other major currencies on Tuesday. At the moment, the euro stands at 1.4076 against the U.S. dollar, or 0.206% higher than in yesterday's close. The euro is also gaining ground on the Japanese yen, adding 0.02% to its value to trade at 115.23. The euro reacted positively to good news from Germany, as its business climate index managed to beat expectations. While most analysts predicted the index to fall from 114.20 in April to 113.70 in May, Germany's economy posted 114.2. This also represents an end to the index's losing streak, as the value of index fell in the last two months. Those traders who believe good results from Eurozone's largest economy will keep pushing the euro higher to other currencies will be interested in the CurrencyShares Euro Trust ETF FXE and the ProShares Ultra Euro ETF ULE.