Euro is getting a little help today, thanks to improved morale in the eurozone. Even though the 17-nation currency is struggling against the US dollar, the euro is higher against some of its other major counterparts. There is a lot for Forex traders to think about as this week draws to a close.
The European Commission announced earlier today that consumer sentiment has improved in the eurozone. A rise from -15.6 points in August to -14.9 points in September brings the reading to its best level in more than two years. This news is helping the euro a bit in Forex trading, helping the 17-nation currency against the pound and the yen.
Against the dollar, the euro is still struggling, thanks to a bit of risk aversion in the markets and talk of a small taper for the Fed’s asset purchase program in October. Euro is also being held back a little bit as Germany gets ready for elections. Concerns about Angela Merkel winning a third term are a little worrying for the euro, which relies on Germany’s current pro-euro stance.
At 14:23 GMT EUR/USD is slightly lower, down to 1.3528 from the open at 1.3530. EUR/GBP is higher, rising to 0.8447 from the open at 0.8440. EUR/JPY is up to 134.5795 from the open at 134.5535.
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