Monday, March 4, 2013

Euro Tumbles After Gloomy Economic Data

Euro Tumbang Pasca Data Ekonomi Suram

Monexnews-Euro mired position 6-week lows versus the U.s. Dollar after data showed the eurozone economy is increasingly depressed, amid uncertainty ahead of Italy on the weekend elections later.

The eurozone PMI Data for the month of February has been celebrating the continued weakening in the region, which keeps the prospect of trimming interest rates by the European Central Bank in the coming months. While the risk of impending split in Italy's Parliament potentially trigger post-election action of selling in the bond market and weighing down the Euro.

"Weak economic data showed the Euro zone PMI Central is under pressure ahead of the election uncertainty, plus Italy. Thus making it difficult to get the Euro going up, "said Matthew Lifson, a senior trader and analyst at the Cambridge Mercantile Group in Princeton, New Jersey. (vid)

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Title Post: Euro Tumbles After Gloomy Economic Data
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