The EUR has taken more hits and now finds itself under the suspicious gaze of investors who are questioning its overall health. While the Sovereign Debt saga has been put to bed, it has shown signs of waking up as ratings services warn that struggling economies within the E.U. will hinder circumstances. News has begun to trickle again from Greece that its current economic conditions are severe and things are not so bright for several other nations either. Today Industrial New Orders will be released and the estimate carries an anticipated gain of 1.6%. Tomorrow the German Ifo Business Climate reading is on schedule. The troubling prospect for the E.U. is that while Germany continues to show signs of being able to be stable, other countries are facing tough economic conditions. How long is Germany going to be willing to pay the bill for many of its E.U. brethren and how long can it afford to do so? The EUR enjoyed a summer of gains versus the USD, but it finds itself confronted by risk adverse trading and it will take a reversal in sentiment to stabilize the Single Currency.
Written by bforex.com