FXstreet.com (Athens) – The EUR/USD fell apart on Tuesday, mostly due to unexpected weakness in the German labor market report.
EUR/USD touching significant support areas on dismal Euro zone news
It was a harsh day for the single currency, as it lost solid ground against its leading counter-part. Poor retail sales in Sweden and unexpected weakness in the German labor market report (unemployment rose 7k versus the consensus forecast of a 5k drop) were the ostensible drivers. What’s more, Bundesbank cut the annual growth forecast for 2013 in June to 0.3%, despite predicting a gradual recovery for the rest of the …read more