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Money and Markets

Euro zone contracting

Posted on August 14, 2008 at 11:54 in Long-Term Analysis by Valeria Bednarik

As expected, the fundamentals were quite negative for the euro zone, as the economy shrank in the second quarter, for the first time since 1995; not much of a surprise at this time, as we have been seeing bad readings in their macroeconomic reports for the past 4 months. Regarding the Euro, the currency will certainly continue to weaken against it’s rivals in the medium term, although in the short term, we could see some correction of these last days fall. We have still not much reaction in charts, but I expect the trading volume to increase considerably in the next hours.

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