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EUR Daily News
EUR Weakness Could Result in Further Interest Rate Cuts
Slow getting out of the gate today, the EUR continues to struggle with the recent financial crisis. Opening today's trading with downward trends against most of its currency counterparts means that the Euro-Zone has yet to find solid ground. The EUR lost over 100 points to the US Dollar, 20 points to the Pound, and 80 points to the Franc, all of which highlights the growing weakness of the 15-nation currency. The EUR now floats near the 1.2600 level against the USD and doesn't appear to be changing direction anytime soon.
With the G20 summit's conclusion this weekend, the Euro-Zone looks to its largest economies, France and Germany, for an indication of future growth policy. However, both countries appear to be heading deeper into recession. With a suggestion to lower interest rates further and provide other financial stimulus to the global economy, the G20 summit put the spotlight on those countries which have been poisoning the international economy from the top-down throughout this crisis. The negative production data and recent economic contraction in the Euro-Zone's largest economies has indeed been felt throughout Europe.
The situation does not appear to be improving this week either. The Euro-Zone is set for one of its quietest news weeks in some time as only a small handful of non-influential data is scheduled to be released throughout this week. Investors should, however, pay attention to two speeches to be delivered by ECB President Jean-Claude Trichet on Tuesday and Friday as they tend to generate market volatility. It appears the US Dollar will be the influential currency this week; traders would be wise to follow its movement.
| Dato | Tidspunkt | $€£¥ | Begivenhed | Per. | Forr. | Prog. | Fakt. | Vigt. |
|---|---|---|---|---|---|---|---|---|
| 11/17 | 10:00 | EUR |  Trade Balance | -5.7B | -5.7B | -5.7B |  |
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