Rabobank: future of the euro is in the paws of bears

The future of the euro is becoming less optimistic

In brief: The future of the euro exchange rate has become quite elusive in the background of the current problems the euro area and the collapse of stock markets.

Stock market crash provokes further problems for the euro. The future of the euro remains gloomy. Despite the fact that the foot and the successful auction in Spain have supported the euro / dollar, currency analysts Rabobank saw no reason for sustained growth. Also worth noting that the disappointing data on U.S. indicates the likely weakening of the dollar in the future.

Strategists Rabobank believes that another reason for joy about the euro is not so much as it seems at first glance, though, in general, yesterday’s data on the U.S. were quite weak, which indicates the possible disappointing data on employment outside of agriculture, to be released tomorrow. Concerns about the state reserves the ECB was useless, the auction in Spain went quite well, which added optimism in the short term against the euro / dollar. Nevertheless, according to currency analysts Rabobank, do not expect this trend to continue in the long run, because the problems caused by the debt crisis in the euro area, still to come. Current euro / dollar is 1.2429.

Ukrainian Globalist
2010-07-01 15:08, Currency news.

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