Sunday, March 31, 2013

The Euro Weakened, Influenced By Economic Data And Cyprus

Euro Melemah, Dipengaruhi Oleh Data Ekonomi Dan Siprus

Monexnews-the Euro traded almost close to the lowest level in four months against the dollar after a report showed that the service sector and manufacturing is contracting in Europe in March, the condition is increasingly adding signs that the economy is struggling to get out of the recession.

17-country currency weakened against most major currencies after a separate report that showed that the manufacturing sector Germany is shrinking. But the euro had strengthened after Demetris Syllouris, who was the leader of the European Party Cyprus's said that he was confident his country would reach an agreement on financial aid. The Yen strengthened again despite the central bank Governor, Haruhiko Kuroda pledged to implement an aggressive monetary easing.

"The weak economic Data has hit the euro, sentimennya is very fragile," said Antje Praefcke, a currency analyst at Commerzbank AG in Frankfurt. " Germany is one of the locomotive of growth in Europe, but after the release of data which is less good than Germany, people might be a little more careful this time. The Euro is likely still under pressure. "

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Title Post: The Euro Weakened, Influenced By Economic Data And Cyprus
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Author: Mohammad Zulfi Satriawan

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