Euro Sells Off in Forex Trading
by Trader Rich
Disappointing data, Italian debt auction send euro lower
Euro is selling off in forex trading today as disappointment sets in. US data is anemic, and that has some worried that the pace of the economic recovery might not be picking up after all.
On top of that, the recent Italian debt auction did not get the interest expected. Even with Italian funding costs dropping significantly, there are those who are staying away. These disappointing results are not helping the euro.
The euro is getting a little support, though, from better trade data in the eurozone. The data has halted the worst of the euro sell off in forex trading. However, investors will be looking at earnings from financial companies, and weighing their options.
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