Forex News: Euro Update

Monday, August 24, 2009

Data reported on Friday showed that manufacturing activity contracted at a far slower pace than expected, and that the services sector decline seen over the past 11 months was flat in July, lifting the Euro a bit.

Forex Online Investors have still not picked up on the good news from the Eurozone despite positive growth reports from France and Germany and this signals the insecurity with the reported growth on behalf of the investors due to conflicting statements from EU officials.

The next few weeks can go a long way to shedding more light on the economic situation in Europe.

At the close the Euro was up .71% to the Japanese Yen to 135.2, up .5% to the British Pound to .8676, down .03% to the Canadian Dollar to 1.5487, up .1% to the Australian Dollar to 1.7155 and up .1% to the Swiss Franc to 1.5159.


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