Corporate foreign exchange news

Foreign exchange news: Calm before storm for euro

Tuesday, 24 November 2009 08:03:21 GMT

Published by Zeb Bham
The euro may sink against the dollar in the next few days after weeks of choppy trade, Daily FX's currency expert David Kicklighter reports.
According to the market analyst, the euro/dollar currency pair has witnessed erratic trade in recent weeks and now appears flat, perhaps ahead of a broad shift in appetites to risk.
"This unnatural sense of calm is reason enough to worry about a potential breakout this week; but aligned with the unusual market conditions that back this liquid pair up, the probability for a violent end seems far more remarkable," said Mr Kicklighter.
The foreign exchange trading site has issued a bearish outlook on the currency pair for the coming week. Key data driving potential price movements over the next few days will be Geman consumer confidence and eurozone economic confidence figures due out on Wednesday (November 25th) and Friday respectively, in addition to German gross domestic product figures to be published later today.
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