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Euro Down Today, But Could That Change Tomorrow?

January 29, 2014 at 13:33 by Miranda Marquit

Stack of one-euro coins on a chartThe euro is down today, due largely to the fact that there are still a few economic uncertainties, and due to the fact that risk appetite remains elusive on a global scale. Once again, markets are falling and there are concerns about a global slowdown. But, while the euro is down today, many are looking forward to eurozone data that could help the 18-nation currency.

Euro is down against all its major counterparts today, floundering along with all the other risk currencies. High beta currencies are struggling as worries about the global economy continue to weigh, especially concerns about the idea that China might be slowing down.

However, even though the euro is down today, there is speculation that tomorrow could be another story. German unemployment data is going to be released, and there are expectations that there will be improvements. Many expect some uptick in business confidence in the eurozone as well. This result would boost the euro.

It’s also telling that there are more countries interested in joining the currency region. Lithuania just expressed an interest, even though that country was already rejected once.

At 13:31 GMT EUR/USD is down to 1.3609 from the open at 1.3670. EUR/GBP is down to 0.8233 from the open at 0.8243. EUR/JPY is down to 139.5190 from the open at 140.6135.

If you have any questions, comments, or opinions regarding the Euro, feel free to post them using the commentary form below.

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