Forex - EUR/USD hits 2-month lows ahead of Greek vote 7-11-2012
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Forexpros - The euro fell to session lows against the U.S. dollar on Wednesday, as weak euro zone data and uncertainty over a Greek austerity vote overshadowed the re-election of U.S. President Barack Obama.
EUR/USD hit 1.2749 during European afternoon trade, the pair's lowest since September 7; the pair subsequently consolidated at 1.2756, shedding 0.44%.
The pair was likely to find support at 1.2625, the low of September 7 and resistance at 1.2825, Tuesday’s high.
The euro weakened amid uncertainty ahead of a Greek parliamentary vote later in the day, on an austerity bill necessary for Athens to secure its next installment of bailout funds.
Meanwhile, official data showed that German industrial production dropped 1.8% in September, compared to expectations for a 0.5% decline, adding to concerns that the bloc’s economy is weakening.
The report came after data in Spain showed that industrial production tumbled 7% in September; almost double the 3.6% decline expected by economists.
Elsewhere, official data showed that retail sales on the euro zone fell by 0.2% in September, compared to expectations for a 0.1% decline.
The euro hit session highs against the dollar earlier amid relief over a clear victory for President Barack Obama in the U.S. presidential elections.
The win for Obama was seen as boosting the chances that the Federal Reserve’s policy of quantitative easing will remain in place.
The euro was also lower against the pound and the yen, with EUR/GBP down 0.26% to 0.7990 and EUR/JPY falling 0.72% to 102.21.
Later in the day, European Union Commissioner for Economic and Monetary Affairs Olli Rehn was to release the EU’s autumn economic forecasts.
Hello and welcome in a blog breaking news Alfrux
Breaking news Forex currency market, forex market GMT. Forex traders
Urgent and exclusive news about the trade and the latest news currency and
currency rates, explanations profit of Alfrux, SEC
Breaking forex news
Forexpros - The euro fell to session lows against the U.S. dollar on Wednesday, as weak euro zone data and uncertainty over a Greek austerity vote overshadowed the re-election of U.S. President Barack Obama.
EUR/USD hit 1.2749 during European afternoon trade, the pair's lowest since September 7; the pair subsequently consolidated at 1.2756, shedding 0.44%.
The pair was likely to find support at 1.2625, the low of September 7 and resistance at 1.2825, Tuesday’s high.
The euro weakened amid uncertainty ahead of a Greek parliamentary vote later in the day, on an austerity bill necessary for Athens to secure its next installment of bailout funds.
Meanwhile, official data showed that German industrial production dropped 1.8% in September, compared to expectations for a 0.5% decline, adding to concerns that the bloc’s economy is weakening.
The report came after data in Spain showed that industrial production tumbled 7% in September; almost double the 3.6% decline expected by economists.
Elsewhere, official data showed that retail sales on the euro zone fell by 0.2% in September, compared to expectations for a 0.1% decline.
The euro hit session highs against the dollar earlier amid relief over a clear victory for President Barack Obama in the U.S. presidential elections.
The win for Obama was seen as boosting the chances that the Federal Reserve’s policy of quantitative easing will remain in place.
The euro was also lower against the pound and the yen, with EUR/GBP down 0.26% to 0.7990 and EUR/JPY falling 0.72% to 102.21.
Later in the day, European Union Commissioner for Economic and Monetary Affairs Olli Rehn was to release the EU’s autumn economic forecasts.
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