http://blog.currenciesdirect.net/index.php/2009/05/14/euro-to-break-higher/ Foreign exchange and currency rates blog Thu, 17 May 2012 07:25:58 +0000 http://wordpress.org/?v=2.7.1 hourly 1 http://blog.currenciesdirect.net/index.php/2009/05/14/euro-to-break-higher/comment-page-1/#comment-42 Phil McHugh Thu, 14 May 2009 15:30:42 +0000 http://blog.currenciesdirect.net/index.php/2009/05/14/euro-to-break-higher/#comment-42 I agree Sam- the GDP data tomorrow will be important as it is expected to confirm the sharp decline in GDP that has been recently forecast...if we do see a contraction of 2% or more quarter on quarter then the euro should weaken...all eyes will then be on the next move by the ECB- the market will look for more action in the form of either interest rate cuts or more bond purchasing to play catch up with other major economies which have acted sooner than the ECB. I agree Sam- the GDP data tomorrow will be important as it is expected to confirm the sharp decline in GDP that has been recently forecast…if we do see a contraction of 2% or more quarter on quarter then the euro should weaken…all eyes will then be on the next move by the ECB- the market will look for more action in the form of either interest rate cuts or more bond purchasing to play catch up with other major economies which have acted sooner than the ECB.

]]>