Dayton, OH (PRWEB) March 28, 2013
As the purchasing value of the Euro dropped over 7% from the high set in February the conclusion of further weakness may be exaggerated, since the first quarter of the year is concluding Friday, states CaesarTrade FX-CFD. It is commonly known that profit taking is done at quarter’s end in financial institutions as they need to report earnings.
Can the 7% drop in the Euro have hinted at a possible crisis in some part of Europe before the news event? There is news, as reported in an article by Der Spiegel, that many of the larger depositors in Cyprus were tipped off to the banking problem and moved money out of the country quietly. If that is the case, wouldn’t it be possible for some of that foresight to be placed into traders hands which would show up in the weakness of the Euro?
“The entire reason the US Dollar has gone down the past few years is due to money printing” states Eric Harbor “So if the Europeans are not printing money and suffering from recession and deflation, why should the Euro collapse? And if the Euro collapses do you really believe everyone will make money shorting the currency in the Forex market? Think about that.”
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