{"id":27419,"date":"2012-02-16T02:58:27","date_gmt":"2012-02-16T07:58:27","guid":{"rendered":"http:\/\/countingpips.com\/fx\/2012\/02\/16\/euro-zone-update\/"},"modified":"2012-02-16T02:58:27","modified_gmt":"2012-02-16T07:58:27","slug":"euro-zone-update","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2012\/02\/16\/euro-zone-update\/","title":{"rendered":"Euro Zone Update"},"content":{"rendered":"<div align=\"left\"><script type=\"text\/javascript\">\ntweetmeme_style = 'compact';\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/tweetmeme.com\/i\/scripts\/button.js\"><\/script>\n<\/div>\n<p>By TraderVox.com<br \/>\n<!--break--><!--break--><\/p>\n<p>\n\t<img decoding=\"async\" alt=\"\" src=\"http:\/\/www.tradervox.com\/sites\/default\/files\/images\/European-Union\/Euro-Symbol-Coins-Spread.jpg\" style=\"margin-left: 10px; margin-right: 10px; margin-top: 10px; margin-bottom: 10px; float: left; width: 300px; height: 217px; \" \/>Shut Down! Just when we thought the euro was going beat up its major counterparts, it instead got the beating of them. EUR\/USD opened at 1.3067, reached a high of 1.3192, before plummeting to a low of 1.3044. EUR\/JPY also ended the day down very low as it closed 50 pips away from its 102.90 open price.<\/p>\n<p>\tChina&#39;s promise to lend its support to help alleviate the euro zone debt crisis got the euro&#39;s hopes up during the Asian session. Remember a few weeks ago China hinted they may participate in the EFSF a few weeks ago? Well our boys down in china changed their word yesterday and confirmed they will definitely participate in the program. Now that&#39;s sounds very good!<\/p>\n<p>\tHowever, the euro rally that was jolted up by this release quickly saw a reversal during the first few hours of the London session when Eurogroup boss Jean-Claude Juncker reiterated to Greece that the release of the bailout funds still wasn&#39;t a sure thing. Bear in mind that, as many analysts have said and discussed before, euro zone finance ministers still haven&#39;t made a decision on whether the next block of funds will be released or not, and that the deadline of Greece&#39;s debt obligations is fast-approaching. Juncker did mention that they will make their decision by February 20, so watch out!<br \/>\n\tAs for economic data, the recent GDP reports from the euro zone showed that Germany and Italy both saw contraction during Q4 2011 while France printed 0.2% growth. Overall, the region contracted by 0.3% during the Q4, making several market participants to worry that the feared double-dip could be waiting in the wings. It didn&#39;t help that the previous quarter&#39;s figure was altered from 0.2% down to 0.1%, reflecting weaker than expected growth.<\/p>\n<p>\tToday, only the ECB monthly bulletin and the Italian trade balance are on the euro zone&#39;s news calendar. Both reports aren&#39;t expected to make huge waves across the charts as traders are still zoned in on the developments in the Greek debt situation.<\/p>\n<p>\n\t<br \/>\n\t&nbsp;<\/p>\n<p>\n\t&nbsp;<\/p>\n<p>Article provided <strong><u><a href=\"http:\/\/TraderVox.com\" target=\"_blank\">TraderVox.com<\/a><\/u><\/strong><br \/>\nTradervox.com is a Forex News Portal that provides real-time news and analysis relating to the Currency Markets.<br \/>\nNews and analysis are produced throughout the day by our in-house staff.<br \/>\nFollow us on twitter: <strong><u><a href=\"http:\/\/www.twitter.com\/tradervox\" target=\"_blank\">www.twitter.com\/tradervox<\/a><\/u><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By TraderVox.com Shut Down! Just when we thought the euro was going beat up its major counterparts, it instead got the beating of them. EUR\/USD opened at 1.3067, reached a high of 1.3192, before plummeting to a low of 1.3044. EUR\/JPY also ended the day down very low as it closed 50 pips away from &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2012\/02\/16\/euro-zone-update\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Euro Zone Update&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-27419","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/27419","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=27419"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/27419\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=27419"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=27419"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=27419"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}