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- Saturday, 17 October 2009 00:08:56 GMT Euro Near Major Top Against US Dollar, but Timing Anything but Clear
- Friday, 16 October 2009 23:25:32 GMT US Dollar May Be Setting Stage for Advance
- Wednesday, 14 October 2009 20:50:00 GMT Euro Rally Toward 1.50 Continues as Industrial Output Rises for Fourth Month
- Monday, 12 October 2009 20:05:09 GMT Euro Ends Week Just Above 1.4700 as German Trade Surplus Narrows
- Saturday, 10 October 2009 02:24:05 GMT US Dollar: At the Mercy of Risk Appetite...or is It?
- Friday, 09 October 2009 23:07:02 GMT Euro Could Succumb to ECB's Neutral Stance, Weak Data
- Friday, 09 October 2009 21:33:45 GMT Euro Ends Week Just Above 1.4700 as German Trade Surplus Narrows
- Friday, 09 October 2009 02:23:25 GMT German Current Account Set to Narrow in August
- Thursday, 08 October 2009 23:31:21 GMT Euro Looks like it May End up a Laggard in the Rate Game Given the ECB's Stance
- Thursday, 08 October 2009 23:30:39 GMT US Dollar and Dow on the Verge of Opposing Breaks
- Wednesday, 07 October 2009 21:15:48 GMT Euro Down as Q2 GDP Gets Revised Lower - European Central Bank Decision on Thursday
- Tuesday, 06 October 2009 17:45:40 GMT Euro US Dollar Exchange Rate Forecast
- Monday, 05 October 2009 19:42:00 GMT Euro Mostly Higher as Services PMI Signals Expansion for First Time Since May 2008
- Monday, 05 October 2009 03:52:22 GMT Euro Zone Investor Confidence to Hit 14-Month High But Markets May Not Notice
- Monday, 05 October 2009 02:38:33 GMT Euro Zone Retail Sales to Shrink for Second Month in August
- Saturday, 03 October 2009 02:35:09 GMT Euro: Will Risk Appetite Hold EURUSD Up or Will the ECB Ease a Break?
- Friday, 02 October 2009 21:38:58 GMT US Dollar Forecast for Recovery Will be Put to the Test
- Wednesday, 30 September 2009 23:15:36 GMT German Retail Sales to Shrink for Fourth Month, Outlook Remains Bleak
- Wednesday, 30 September 2009 20:07:43 GMT US Dollar Down Despite Q2 GDP Revision - Testimony from Fed Chairman Bernanke on Thursday
- Wednesday, 30 September 2009 00:28:00 GMT Euro Growth Outlook Bolstered by Retail Activity, Confidence but Market Little Impressed
The euro came under pressure on Monday, as risk aversion drove up demand for currencies like the US dollar and Japanese yen. EUR/USD pulled back toward support at 1.3815/30, where there is the 38.2 percent fib of 1.2964 - 1.4340 and a rising trendline connecting the May and June lows. Meanwhile, there is notable resistance from a falling trendline connecting the 6/3, 6/11, and the 6/19 highs at 1.3975. European economic data was actually positive, as the Ifo institute's survey of German business confidence improved for the third straight month in June, as their index rose to match the November 2008 high of 85.9 from 84.3 due primarily to a surge in business expectations to an 11-month high of 89.5 from 86.0.
On Tuesday, Markit Economics is expected to announce that their composite reading for the Euro-zone's manufacturing and services sector rose to 44.9 for the month of June, marking the fifth straight improvement. That said, this would also mark the thirteenth straight month that the index held below 50, which indicates a contraction in activity. Nevertheless, better than anticipated results - especially a rise above 50 - could offer a boost to the euro amidst hopes that the worst has passed for the Euro-zone economy.
Related Article: Euro Weekly Trading Forecast
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