The Two Massive Reasons why EUR/USD Recession Isn't Over
>> Friday, 8 March 2013
Hi, My name is Rian. Let me share forex article for today :)
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The particular IFO customer survey of organization sentiment went up to a ten-month higher, defeating current market predictions, however the effect in the forex market was seemed to be highly muted, along with EUR/USD increasing simply to 1. 3225 seeing that traders held their own eyes for the recently held Italian election. The IFO defeated on all fronts with business environment sentiment increasing to 107.4 (versus 104. 9 expected), existing assessments improving in order to 110.2 (vs. 108. 5), as well as expectations enhancing to 104. 6 (vs. 101.4).
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The particular IFO customer survey of organization sentiment went up to a ten-month higher, defeating current market predictions, however the effect in the forex market was seemed to be highly muted, along with EUR/USD increasing simply to 1. 3225 seeing that traders held their own eyes for the recently held Italian election. The IFO defeated on all fronts with business environment sentiment increasing to 107.4 (versus 104. 9 expected), existing assessments improving in order to 110.2 (vs. 108. 5), as well as expectations enhancing to 104. 6 (vs. 101.4).
Due to the elections, on the other hand, could hardly force EUR/USD higher, as the pair in the beginning rose to 1. 3245 merely to fall back again towards 1. 3200 level within European trade. There have been various factors in which weighed on the unit.
The Italian elections has constantly the cause of concern in forex market, because there seems absolutely no obvious winner from the race, and also the emergence of comedian-turned-politician Beppe Grillo with the substantial number of votes behind him has delivered shivers with the political establishment.
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