- Fewer dollar drivers this week helped the euro steady above recent two-year lows.
- The market spotlight on Britain today also took the focus off euro negatives such as its weak economy and how it may soon need more support from the bloc’s central bank.
- The euro appears to be home to heightened uncertainty over the balance of the week with big growth reports due on Friday.
- Both the euro zone and Germany are forecast to eke out 0.1% growth during the third quarter.
- Any disappointing results would fan recession fears and risk another leg lower for the single currency.
- Conversely, better than expected growth could see the euro catch a short-covering bounce.
- The euro already is near multiyear lows, making a persuasive case for some forward contract buying ahead of what could prove a frenetic Friday.
The material has been provided by InstaForex Company – www.instaforex.com