Daily News | Greece in economic woes

We are continuing our coverage of the most important news items that could have a meaningful impact on the currency market this week. Therefore, read intently if you want to have the most to gain from the data we give you! This Tuesday, we decided to look at the euro. From Friday to Monday, the currency fell from $1.0697 to $1.0662. This happened right around the time that disagreements between the government in Greece and the International Monetary Fund over pensions and labor reform created further problems for the European Union. These differences were a consequence of the fact that Greece has problematic fiscal progress, energy market and labor reforms. This could spark new fears of a crisis within the EU, and we will monitor this situation intently in the future. But let us look at the US dollar now. In the same timeframe, the USD rose from €0.9347 to €0.9379. The manufacturing index of the United States did, however, retreat from two and a half year highs this past month, as both new orders and production fell. However, all indexes showed that there was a strong economic foundation on which to build further gains in the future. We will continue to look into this in the days to come, so be sure to follow us!

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