EUR/USD was down from yesterday’s (Aug. 7) levels, as the markets wait to see if the ECB takes action. In particular, there is growing pressure on the central bank take steps to cut borrowing costs in Spain and Italy. After yesterday’s weak German Factory Orders, German Industrial Production was a disappointment, falling below the market forecast. There was some goods news out of Germany, as Trade Balance was well above the estimate.
Here’s an update about technical lines, fundamental indicators and sentiment regarding EUR/USD.
Read the rest of the article [B][I][URL="http://www.forexcrunch.com/eurusd-aug-8-losing-ground-as-markets-await-ecb-action/"]EUR/USD Losing Ground as Markets Await ECB Action[/URL][/I][/B]
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