Source: ForexYard
More negative news for the Euro-zone as the Euro weakens against the Yen and the Dollar. The Euro took a slide due to an index of the euro -area manufacturing and services which contracted for March,more than then expected.The Euro-zone takes another hit, as such a result can only add to concerns of a slowing European economy.
Over the last few months we have seen the Euro-zone economy show signs of improvement and some surprisingly positive outcomes, however this latest setback will cast even more shadows over the future of the Euro.
This morning saw the greenback appreciate over most rival currencies with the exception of the Yen.The Dollar rose against its Australian and New Zealand counterparts after the news that Chinas’ purchasing managers’ index fell to a weaker then expected 48.1 in March.
We head to the Yen as the major currency strengthened against 16 currency rivals after Japan reported an unexpected trade surplus for the month of February, another indicator of the Japanese economy showing good signs for the future.
More positive news for the Yen as the currency moved towards its first five-day advance in 7 weeks against the Greenback as a result of Japans’ finance ministry reporting the amount of exports exceeding imports by 32.9 billion Yen. This latest data suggests that Japans economy is showing signs of improvements.
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