EUR Continues to Fall Under Foreign Influence
Posted on 19. Nov, 2008 by admin in Daily Euro Analysis, Euro Currency, Euro Currency News
The EUR saw very little change in its overall value against the other currencies yesterday. It has managed to remain rather calm in light of recent news from the Euro-Zone market. The only economic event out of the Euro-Zone yesterday was the Italian Trade Balance, which ended up slightly lower than forecasted, helping to keep volatility to a minimum.
Sentiment in the U.S. economy has brightened in the past week following better-than-expected news. However, the EUR is still showing signs of resilience as it traded in a relatively close range yesterday even though there was a little volatility throughout non-EUR crosses. It will be crucial for traders to identify how the preceding economic indicators from the U.S., European and Japanese economies will affect their positions.
There are no economic data releases expected from the Euro-Zone today; however there will be a nice batch of data from the U.S. which will affect the EUR’s major counterparts. Traders should pay close attention to the response of equity markets to determine how to continue with EUR positions as well as to pay attention to the news from the United States to place their transaction accordingly with today’s developments.
