As the EU Economic Summit gets underway, traders appear leery about the value of the region’s staple currency, the euro (EUR). A choppy and chaotic market has reigned over traders today as a series of reports on flash manufacturing and services reveal stagnant growth in both sectors.
The data releases have generated mild scorn as investors who entered mid-week with growing optimism returned to a pessimistic stance and fled back into safe-haven assets. The EUR was seen plummeting against the US dollar (USD), but had sporadic upticks throughout the day as volatility intensified.
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Greg Holden is the Chief Market Analyst at ForexYard. Greg uses his detailed knowledge of fundamental and technical analysis to provide some of the leading market forecasts in the forex world today. A guest lecturer at forex symposiums and Chief Editor of ForexYard's analysis center, Greg brings highly detailed and easy-to-use market analyses to his clientele. He has been published on ForexYard's Trading Blog and affiliate websites. Greg holds degrees in Political Science and Economics from Missouri State University, as well as a Masters degree in Middle Eastern History.
