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Day: February 17, 2009
February 172009
Bad Empire State Manufacturing Survey and Good TIC Flows Make Euro to Go Down
EUR/USD declined significantly today (fastest since February 4) as the the mixed macroeconomic statistics from U.S. urged investors to sell the euro and the move for the U.S. dollar. EUR/USD is currently trading at 1.2598 after opening at 1.2795 today. Empire State Manufacturing Survey report showed a decline of the general business conditions index from -22.2 to a new record low of -34.7. The market participants expected only a small […]
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February 172009
Euro Weakens before ZEW Survey
The European single currency reached its lowest level against the dollar since the early December as the Forex traders expect that the ZEW Survey report will show that the Eurozones business confidence is at the very low levels today. There are also expectations that the credit rating of several big European banks may get downgraded soon on the concerns that their […]
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