EUR/USD Fluctuate on the Fourth-Quarter GDP in Euro Zone

[forexnewsguy]

The trading in the forex market was very light yesterday as it was a public holiday in America. The forex rate of Euro against US dollar went down sharply after the report that WestLB might seek bankruptcy protection.

Euro zone finance ministers meeting had be held yesterday. The officials from the countries in Euro zone agreed to establish a system for permanent aid, but they didn’t agree to the program about the relief fund in Euro zone. Then Euro declined continuously. The forex rate of EUR/USD traded at 1.3500 in the morning today.

Yesterday the White House issued the budget, which showed that the budget in USA would be as high as 1.645 trillion dollars this year. Then the forex investors reduced their confidence on the US dollar index. US government debt still grew quickly, though government had made a program to reduce American budget deficits.

Edited by kayla