Euro Rises on Strong Retail Trade and Factory Orders in Germany

The euro rose against the U.S. dollar and the Japanese yen on Tuesday, after strong rebound in the Eurozone retail trade and German factory orders. According to

, the Eurozone retail trade in April increased by 0.9% from March. The increase easily outperformed market expectations of a 0.3% growth and March's 0.9% fall. The euro strengthened against the dollar and the yen on the news. At the moment, the euro is trading around $1.4676, or 0.693% above yesterday's close. At the same time, the euro added 0.754% to its value against the yen and is trading around ¥117.66. The euro was further supported by a rebound in the German factory orders. After falling by 2.7% in March, the

grew by 2.8% in April. Most analysts expected it to grow by 2%. These data clearly show that the Eurozone economy is recovering and is especially strong in its biggest economy - Germany. Traders who believe the Eurozone economy will continue to recover, driven by strong growth in Germany, which should provide some steam for the euro, will be interested in the ProShares Ultra Euro ETF

and the WisdomTree Dreyfus Euro Fund

. Other traders might think that things in the Eurozone periphery will deteriorate, above all in Greece, which will send the value of the European currency tumbling. These traders will be interested in the Market Vectors Double Short Euro ETN

.