Euro Weakens three consecutive days, Pressure Potential Still Strong
fxbom.com
02:05 PM
In forex trading the Asian session this afternoon, the euro is generally observed to move lower against several other major currencies, after the last 3 days also fell in a row.
In the Euro value of the index chart runs observed in the range of 102.27, and has weakened thin around – 0.02% from opening price today (00:00 GMT). Developments that are still disappointing in the EU economy lately suppressing the Euro rally.
Fxbom.com analysts argued that the labor sector is still characterized by high levels of unemployment, sharpen the notion that the debt crisis in the region have hit the economy joints are strong enough. A recent report from the European Union’s statistics office showed that the unemployment rate in December was still entrenched in the figure 10.4%.
Meanwhile, a recent report on retail sales in Germany showed a contraction of about – 1.4% in December, which is disappointing because previous results are expected to rise 0.9% +.
Potential pressure on the Euro currency in today’s trading was observed still quite strong, especially with the possibility of slower growth rate of consumer prices in January was a 2.7% from 2.8%.
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