USD/EUR Would Rise on American Good Retail Sales Data

[forexnewsguy]

It was predicted that the forex rate of US dollar against Euro would go up this week as some economic data would be issued in the near future.

Eurozone bond market fluctuated recently as Portugal ten-year bond yield reached to the new record high level and the investors worried about the financing costs in Euro zone peripheral countries. Besides it, Euro might get pressures from the uncertainty of policy by European Central Bank. According to the report, Axel Weber, the head of Germany's central bank, would not be the president of European Central Bank. It was predicted that the interest rate in Euro zone would not be raised in the near future.

America would issue a lot of important economic data, such as inflation figures, manufacturing activity data and retail sales data. Meanwhile, many countries in Euro zone would issue the GDP at the last quarter in 2010.

The economists predicted that US retail sales might increase by 0.5% on January. However Federal Reserve would still take Quantitative easing policy to boost economy and reduce unemployment rate.

A serious of economic data showed that American economy recovered gradually. Forex analysts pointed out that US dollar would continue to rise in the forex market in the future.







Edited by Kayla

[kochtgr]

You mean that EUR/USD will go down?