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EUR/USD Fluctuates as Future of Greece Remains Unclear

February 8, 2012 by

EUR/USD fluctuated today as market sentiment about an outcome of talks about a new portion of bailout for Greece shifted constantly. Nothing is clear yet, so the currency pair may move in any direction. There wasn’t any major news from the United States to guide the Forex market, except the yesterday’s report about consumer credit that was quite good, but it wasn’t enough to cause any significant shift in the performance of the dollar.

Crude oil inventories increased by 0.3 million barrels, while total motor gasoline inventories increased by 1.6 million barrels last week. (Event A on the chart.)

Yesterday, a report on consumer credit was released, showing an increase by $19.3 billion in December. The actual value was below the November reading of $20.4 billion, but much bigger than the forecast figure of $7.7 billion. (Not shown on the chart.)

EUR/USD for 2012-02-08

If you have any comments on the recent EUR/USD action, please reply using the form below.

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