Euro Falls as Eurozone Consumer Confidence Unexpectedly Declines

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Forex Trading

: 21 February 2014

Consumer confidence in the Eurozone unexpectedly dropped this month sparking fresh concerns that the much trumpeted economic recovery is already losing steam.

At the same time, the ECB remains on alert to continue its loose monetary policy should the situation get worse.

Finally, disappointing manufacturing and services data also helped to push the euro lower, with the currency losing 17 points against the dollar to close at $1.3719.



Forex Trading

: 20 February 2014

A continued resolve to scale back quantitative easing, as showed by the Fed meeting minutes, kept the dollar strong yesterday.

In addition, the International Monetary Fund warned of the downside risks to global economic growth, sending investors into the safety of the dollar.

As a result, the EUR/USD pair retraced by 25 points to $1.3733.



Forex Trading

: 19 February 2014

Lately, some mixed US economic data has sparked a debate about fresh downside risks which translated into spread betting investors being slightly less enthusiastic about the dollar.

Such is the uncertainty that they have been moving into the euro despite the fact that the common area has nowhere near the growth rate seen across the Atlantic.

Consequently, the EUR/USD pair has rebounded sharply since the start of February, yesterday gaining another 49 points to $1.3732.



Forex Trading

: 18 February 2014

Amid a refusal by EU Finance Ministers to offer new assistance to Greece before the European elections in May, the shared currency gained 50 points against the dollar to $1.3709.

German ZEW Economic Sentiment due later today will undoubtedly be getting all the attention from FX traders on this side of the pond.



Forex Trading

: 17 February 2014

It seems that global forex markets are prepared to go easy on the new Fed Chairman Janet Yellen for the moment.

A string of mixed economic data from the US last week kept investors rather nervous and so they shied away from the dollar.

Instead they supported the single European currency, pushing the EUR/USD pair 20 points higher to $1.3698.

Investors will be waiting for this week's FOMC minutes to offer some extra hints on the next possible direction.


By Jonathan Sudaria, 21 February 2014


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