Euro Hit By Unemployment Data Portugal

Monexnews-the Euro slipped versus the U.s. Dollar as unemployment figures in Portugal to merangsek the highest level throughout the history of the block 17-State. The unemployment rate in Portugal surged to 16.9% from 15.8% in Q3, according to the report the National Statistics Institute in Lisbon. The Euro has the potential to be further depressed if growth data Thursday showed the economies in the region are increasingly shrinking in the last quarter of last year.

"The Prime Minister of Portugal showed a sharp rise in concern over the unemployment rate, which was released a day before the Euro zone growth data," said Joe Manimbo, a market analyst at a Western Union Business Solutions in Washington D.C. "the anxiety on the economy appears to be starting to come to the surface again." (vid)

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The Euro Plummeting, unemployment is rising in Portugal

Monexnews-the Euro weakened against most major currencies after the unemployment rate rose to the highest level of Portugal since the introduction of the single currency because the country is struggling to get out of the recession that is currently on its third year has been up in 2013.

17-country currency earlier rose after industrial production rises more than expected and bond Italy stayed on the top level as the Government managed to sell bonds worth almost $ 9 billion. The Yen strengthened against most currencies, even after the Bank of England Governor Mervyn King said that the currency should allow for berfluktuisasi's based on monetary stimulus measures, those comments simply soothe worries the market from the G-20 meeting, which is likely to be criticized in Japan weaken its currency.

"Portugal's Prime Minister sounded worried about the rising number of jobless growing, coming on the eve of the release of growth data from Europe," said Joe Manimbo, market analysts in Western Union Business Solutions in a telephone interview from Washington, D.C. "We are beginning to see rising economic anxiety kepermukaan

(fsyl)

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