The euro slipped versus the U.S. dollar as the unemployment rate in
Portugal surged to the highest level in the history of the 17-nation
bloc.
The unemployment rate in Portugal jumped to 16.9% from 15.8% in the third quarter, according to the National Statistics Institute in Lisbon. The euro has the potential for further pressure if the growth data on Thursday showed the region's economy shrank in the last quarter of last year.
"The Prime Minister of Portugal showed concern over the sharp rise in the unemployment rate, which was released a day before the euro zone growth data," said Joe Manimbo, a market strategist at Western Union Business Solutions in Washington DC
"Fear of the economy seems to start back to the surface."
Technically, the trading session today, Thursday (14/02), the pair euro dollar likely to move in a negative trend.
A weaker euro is mainly expected to immediately re-examine the minimum Support at 1.3392 and 1.3350 maximum. Meanwhile, if the Euro was able break and hold above 1.3448, then another alternative scenario that is likely to test Euro Resistance at 1.3494 and 1.3547 area.
The unemployment rate in Portugal jumped to 16.9% from 15.8% in the third quarter, according to the National Statistics Institute in Lisbon. The euro has the potential for further pressure if the growth data on Thursday showed the region's economy shrank in the last quarter of last year.
"The Prime Minister of Portugal showed concern over the sharp rise in the unemployment rate, which was released a day before the euro zone growth data," said Joe Manimbo, a market strategist at Western Union Business Solutions in Washington DC
"Fear of the economy seems to start back to the surface."
Technically, the trading session today, Thursday (14/02), the pair euro dollar likely to move in a negative trend.
A weaker euro is mainly expected to immediately re-examine the minimum Support at 1.3392 and 1.3350 maximum. Meanwhile, if the Euro was able break and hold above 1.3448, then another alternative scenario that is likely to test Euro Resistance at 1.3494 and 1.3547 area.
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