Forex Demo:Bearish Sentiment of EUR Deepens

[amandalanlulei]

Forex Demo—- Andrew Busch, global forex strategist at BMO Capital Markets at Chicago said the other day that as the governmental officials of South European countries returned from their holidays, methods had to be adapted to stimulate employment, and pessimistic sentiment against the euro was emerging.

The heated pessimistic sentiments against the euro can be reflected from the CFTC data released last Friday (August 20th). Forex analysts at Scotia Capital Inc pointed out that in the week that ended on August 17th, speculators increased holding euro short positions, which had declined for 6 weeks consecutively.

The euro fell to the month-low against the dollar at 1.2673 last Friday, for the Deutsche Bank implied that the European Central Bank would maintain the easing monetary policy till the next year.

The euro witnessed a short-term rise in summer, thanks to the eased fears against the euro-zone banking debt crisis on forex market. The euro forex rate against the dollar rose from the 4-year low of 1.1876 on June 7th to above 1.3300.

Forex analysts anticipate that the euro forex against the dollar may be in a consolidation region between 1.2600 and 1.2900.—-Forex Demo

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