In view of the accession of Estonia to the European single currency as from 1 January 2011, an extensive media campaign was launched in the country, campaign launched by the ECB President Jean Claude Trichet, the governor Central Bank of Estonia, earlier this week.

Dollar trading was mixed Thursday morning as European leaders met to work out a rescue package for Greece and Federal Reserve Chairman Ben Bernanke testified to Congress about ending emergency aid to markets. The 16-nation euro fetched $1.3332, down slightly from $1.3338 late Wednesday in New York.

European and U.S. stock markets earned significant pace today (Thursday) by the newly announced U.S. jobs data. Meanwhile investors all around the world are awaiting Summit of EU leaders in Brussels for any valuable information regarding Greek debt crisis.

US Dollar (USD) reached a 10 month high value on 24th of March as huge deficit in Greek economy still has an unclear future, where a Portugal’s note was downgraded by Fitch Ratings. These two concerns made a accumulated effect, setting the Euro US Dollar pair valu right below its long tailed 1.34 value.

Though we don’t dive into making forecasts about forex trends here in Foreximize.com, last week and today’s downward trend in EUR/USD pair forced us to drop a few lines in here about possible future scenarios of these two currencies.

For the last three days we were outlining strong US Dollar trend against Euro and yesterday, as the markets closed within US Borders, Federal Reserve Bank’s chief executive Edward Bernanke announced a surprise increase in the increase rates, that are charged on short-terms loans for banks. 0.25% increase is the first ever heads up from [...]

Latest indicators are not lying. Euro will see tough competition in the following months under the shadow of high central bank deficits streaming from weaker economies in Euro zone. As you can clearly see from 4 years old trend curve it’s getting difficult for Euro to make a comeback to its previous peak against US [...]

There has been a lot fluctuations in Euro/Dollar parity for the last 4 weeks. Based on Greek financial woes, Euro zone is meant to struggle in term of deficits when adding Spain and Portugal too into the basket. However, big bosses of Europe have mixed feelings about its eastern border.

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