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EUR/USD Fluctuates as Greece is Still Factor of Uncertainty

May 11, 2012 by

EUR/USD fluctuated today, heading to a weekly loss, as fears that Greece would drop the euro still plague the Forex market. In the United States, the Producer Price Index unexpectedly dropped, but consumer confidence continued to improve.

PPI fell 0.2% in April, even though analysts promised it to stay unchanged as in March. (Event A on the chart.)

Preliminary Michigan Sentiment Index climbed to 77.8 in April, while it was expected to stay at the March’s level of 76.4 (revised from 75.7). (Event B on the chart.)

EUR/USD for 2012-05-11

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