FOREXYARD: Forex News Blog

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Swiss ZEW Economic Expectations in Sharp Decline Posted: 21 Jul 2011 06:31 AM PDT The ZEW confidence reading on economic expectations in Switzerland highlighted a sharp decline in market sentiment for the next six months. The Swiss franc (CHF), a rapidly strengthening currency due to its safe-haven status, was seen trading hesitantly today after the ZEW published a report showing expectations plummeting. Switzerland's economy has weathered the financial storm moderately well, with relatively few economic difficulties since 2007. Whether this sharp downturn in economic outlook will carry a lasting effect on the CHF is yet to be seen. It appears though that investor flights to safety will continue to aid the Swissie as global market turmoil persists. Read more forex trading news on our forex blog.

Euro Zone Flash Data Disappoints, EUR Drops Posted: 21 Jul 2011 06:26 AM PDT As the EU Economic Summit gets underway, traders appear leery about the value of the region's staple currency, the euro (EUR). A choppy and chaotic market has reigned over traders today as a series of reports on flash manufacturing and services reveal stagnant growth in both sectors. The data releases have generated mild scorn as investors who entered mid-week with growing optimism returned to a pessimistic stance and fled back into safe-haven assets. The EUR was seen plummeting against the US dollar (USD), but had sporadic upticks throughout the day as volatility intensified. Read more forex trading news on our forex blog.

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