Monday, August 1, 2011

Economic Figures grabs Euro Gain

Monexnews - Market participants are now looking alert and wait and see as market attention focused on today's official announcement of the U.S. government to raise the debt limit that had entered the deadlines.
Decline in major currencies mainly due to the action khususunya Euro investors avoid the risk associated decline in American manufacturing sector figures, and even earlier on Friday, the U.S. second quarter GDP numbers also fell.

The bad numbers are adding to worries of a global economic recovery, given the economic recovery in the euro area itself is still running slow.

And a weaker USD deepened after economic data released Monday bad. Index Institute for Supply Management manufacturing slumped to its lowest since July 2009.

As a result, prospects for short-term IDR may still be depressed. Because the conditions are not satisfactory economic figures, the market assumes that the ECB will change the positive outlook on monetary policy meeting on Thursday the day after tomorrow.

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