Friday, November 1, 2013

Euro in a hard round

Nevertheless Germany had a good unemployment change which supposed to push the Euro but it went down for seven days reaching seven days low during Friday morning trades because of the U.S. economy recovering which appeared obviously this week.

In details, Euro bearish trend started at the last Friday when the unemployment claims in U.S. - the main economical competitor - decreased to four weeks low although the hard period it was in in addition of some bad results announced during that week, but Dollar held its last breath to recover investors’ confidence.

Then that was followed by declining Germany consumer confidence keeping Germany the firs responsible for the Euro federation economy strength, the blue union held the same unemployment rate at 12.2% while they reported that they will decrease it lower than 12% during the last month, which was a hard smash at Euro’s investors’ confidence, so Euro is surfing on the worst bearish wave in three months.

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