The euro has dropped slightly in forex trading. While doing better today than yesterday, the 15-nation currency is nevertheless struggling against the U.S. dollar in FX trading. Right now in currency trading, the euro continues to be affected by euro zone officials' comments, reports GFT's Boris Schlossberg in FX360:
With no eco data on the docket euro was hurt early by comments by Axel Weber that there are no “economic green shoots” in German or Eurozone economies. As we noted yesterday, the true measure of the health of the EZ economy will become more evident tomorrow when the market sees the PMI composite data.
It is clear that one of the main stumbling blocks to the euro in forex trading remains the seemingly disparate policy from officials. Additionally, the perception that ECB policymakers appear to be in denial about the magnitude of the euro zone's economic problems isn't helping matters.
With no eco data on the docket euro was hurt early by comments by Axel Weber that there are no “economic green shoots” in German or Eurozone economies. As we noted yesterday, the true measure of the health of the EZ economy will become more evident tomorrow when the market sees the PMI composite data.
It is clear that one of the main stumbling blocks to the euro in forex trading remains the seemingly disparate policy from officials. Additionally, the perception that ECB policymakers appear to be in denial about the magnitude of the euro zone's economic problems isn't helping matters.
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