FX Trading - Euro Currency

April 3rd, 2009 by admin

FX Trading - Euro Currency: The euro was trading around 1.27. Right after the Fed announced that they were entering Quantitative Easing / Monetizing the Debt, the euro shot up to 1.37 (in two days of trading), only to fall back on weak economic numbers in the Eurozone.

The 64 Million Euro Question: Who’s Better Off In This Mess? But, if the fundamentals have anything to say about what’s going on, it gets down to a choice who is better off in this mess? That remains to be seen.

Who’s Currency is Worse Off These Days? For instance, yesterday the euro dropped a bit after their unemployment data showed some rot on the vine. But that was far outdistanced by the ADP employment report here in the U.S. hours later. As Chris told you yesterday, the ADP showed that 742,000 jobs were lost in March.

Now, I know the ADP’s numbers tend to be a bit higher than ones from the Bureau of Labor Statistics (BLS). We all know why that is to a degree (the birth/death model for instance), but the rest is unexplained.

For that reason, I want to believe the ADP numbers more than the BLS numbers. And I know these numbers for unemployed Americans have been quite high for some time now. But don’t lose focus on the enormity of all these job losses. It’s quite devastating to an economy.

I often call this an “inconvenient debt.” And Brother we are racking up the debt in this country!

Source: FX University Daily

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Posted in Currency Values, Forex, Fx Forex
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