This week is expected to be very busy, and the euro is lower today in anticipation. There is a lot of economic data expected this week, as well as central bank decisions to be made.
Many Forex traders will be watching this week for signs that global economies are on the mend. There is special interest in the eurozone and in the United States. However, expectations are that the US economy will come out looking better than the eurozone economy when the numbers are released later.
Forex traders are also looking forward to listening to speeches from central bank presidents following policy decisions made this week. The Federal Reserve, Bank of England, and European Central Bank will all be announcing policy decisions later this week.
Euro is being helped by the fact that many investors in the eurozone believe that the 17-nation currency is likely to remain intact. Sentix reports that only 23.75 per cent of investors think that at least one country will leave the eurozone. Thanks to Mario Draghi‘s promise last year to do whatever it takes to keep the eurozone intact, euro is managing to remain relatively steady.
At 12:44 GMT EUR/USD is down to 1.3256 from the open at 1.3285. EUR/GBP is down to 0.8635 from the open at 0.8637. EUR/JPY is down to 129.8065 from the open at 130.3150.
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