Euro Performance In Forex Trading
According to recent EU Forex trading numbers, the euro has been taking some losses against its main competitors in the currency markets. This disappointing news is coming on the heels of less-than-stellar retail sales performances and lower order numbers for Germany-based factories. Other assets such as crude oil and the British pound are now predicted to see bear market patterns as well in the near future. In the most current EU market news, traders will want to keep a close watch on the German Industrial Production figure, which will become available at 11:00am GMT. If this number posts below predicted performance, further EU market losses are expected to follow close behind it.
News on the Economy
On the other side of the pond, the US dollar saw more bull market patterns and yielded higher returns. This data surpassed that of EU retail sales and orders from German factories. Mid-day trading saw a USD/CHF increase of almost 50 pips. The GBP/USD data decreased to about 60 pips during the same trading period.
Little news has been released from the US regarding this performance, and movement of the US dollar will probably happen again as a result of the latest euro-zone trading data. Many analysts predict that this month’s indicator will be higher that last month’s, which will probably generate more risk in the market. It could also wipe out any gains the greenback made yesterday. During trading later in the week, US dollar traders will want to watch for the latest US Unemployment Claim numbers as well as figures from the trade balance. Both of these figures will likely generate further volatility in the case of the greenback.
Losses of the euro in Forex trading are attributed to EU unemployment numbers, low retail sales and disappointing factory order numbers. These losses are considered moderate against currency rivals designated safe trading havens. Compared to recent Japanese yen market performance, the common currency took a 60 pip loss to start trading as low as 114.23.