Economic Activity Slows in Britain and the Euro Zone
Pound and euro pull back briefly in forex trading
Economic activity has shown signs of slowing again in Britain and in the euro zone as "economic green shoots" continue to wither. GFT’s Boris Schlossberg comments on the flagging economies on the other side of the Atlantic in FX360:
The stall in economic activity confirms our suspicion that the recovery trade is losing momentum as final demand remains lackluster. As we noted earlier the overall picture, “indicates stability, but little further improvement in both EZ and UK and does not augur well for risk currencies going forward.” The Aussie remains the one exception amongst the majors as Australia continues to benefit from Chinese demand.
On the news, the pound and the euro pulled back in forex trading slightly. The U.S. dollar is gaining some favor as a safe haven.
See Also
- Euro in Forex Trading
World currencies on the FX market
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