3 Reasons for the Drop in EUR/USD
From forexcrunch.com
Euro/dollar is on the fall. The initial reaction to the mixed Non-Farm Payrolls was a move higher, but this was limited and was followed with a slide. The move then accelerated and EUR/USD already lost one support liine. Here are three reasons for the downfall: A bright side in the Non-Farm Payrolls: The report included a small slide in the unemployment rate to 9%, a drop in U-6 "real unemployment rate to 16.2% and most importantly significant upside revisions to the figures released in August and September, a total of above 100K. This lowers the chances of QE3. Digestion of German economic weakness: German ...
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