EuroDollar Futures

After the recent economic meltdown, many Americans are knee deep in debt. If you are one of them and facing troubles in paying back your creditors, it’s time that you consider some debt relief programs. You may choose from a range of debt relief programs like credit counseling, realistic budgeting, debt consolidation, or even bankruptcy. The program you select depends on your amount of debt and your level of discipline. However, the enormous amount of debt also had a significant effect on the American economy.

Although it started off on a positive note, the euro somehow toppled against the majority of its main currency contenders. This is because the euro-zone debt crisis constantly takes the investors away from the currency. With a probable enhancement in today’s US New Home Sales figure, it’s not very likely that the euro will turn around to its current bearish fashion.

Unemployment claims improve USD prior to holiday weekend

The previous US Unemployment Claims provided the USD with an extra boost against its chief currency competitors before the holiday weekend. The recent unemployment figure reached a level that’s even lower than what was expected by the analyst. It’s actually the poorest figure since April 2008. In the early hours of the euro zone debt crisis, when investors were searching for a secure haven outlet, the positive jobs statement provided them with an added encouragement. In the present economic condition, traders may expect further market instability. Numerous American indicators like the New Home Sales and the Core Durable Goods Figure report may lead to further monetary gains. Specifically, the New Home Sales record will probably play a significant role in the future trading session. Besides employment, one of the key contributing factors to the American economic crisis is home sales.

EUR unable to recover losses in Thursday dealing

In spite of initiating the day off on an optimistic note, the euro wasn’t able to retain its bullish trend. This happened due to a lot of reasons which forced investors to dump the currency. The decision of the ECB to set up a three-year refinancing process boosted expectations that the euro-zone debt crisis might be lessening. On the other hand, negative reports about the real condition of the European economies caused the currency back down. This report brought the USD/EUR perilously close to the major 1.300 level.

Moreover, positive US reports resulted in traders redirecting their cash to the steadier greenback prior to the Christmas Holiday. Analysts are of the view that the euro isn’t much likely to bounce back before the New Year and will hang on to its downward slide even in 2012.