Daily News | Problems in Europe

We are at the start of another exciting week of global binary options trading, so let’s start our analysis by taking a look at the most important news of this Monday and what they mean for the currency market. We will start things off with the euro. The currency seems to have hit another low at the end of last week, dropping from $1.1133 to $1.1079 from Thursday to Friday. It seems that the troubling woes of the banking system in Europe are not going away any time soon. In Italy, Monte dei Paschi di Siena is set to pay very high fees in Europe, as part of its plan to put a spring in the step of investment banks. There is no guarantee that this rescue plan will succeed, but if it does, we shall see some vigor put bank into the economies of the Eurozone, so watch out for that. Next, let us look at the US dollar. In the same time period, the USD rose from €0.8981 to €0.9025. This is in line with developments on the US stock market, which rose to record highs on Friday, backed mostly by a rise in employment and consumer spending being on the rise. Market experts are suggesting that this trend could very well continue, so watch out for that.

Daily News | Trade confidently

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Author: Max Rothstein

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