EUR/USD Performance Chart as at 3:30 a.m. Singapore time, 20/04/11

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HISTORICAL DETAILS 

% Change

1 Wk -1.16%

1 Month 0.90%

3 Months 6.21%

6 Months 4.24%

1 Year 5.97%

 

52 WEEK

High 1.452

Low 1.1877

 

BLOOMBERG MEDIAN FORECASTS

Q2 2011 1.41

Q3 2011 1.38

Q4 2011 1.37

Q1 2011 1.35

 

DAILY DETAIL

Solid eurozone economic data helped the euro rebound against the dollar this morning - after its worst day in five months - but nagging worries about debt troubles in Greece looked set to keep the single currency vulnerable. The euro climbed above $1.43, well off a two-week low of $1.4155 reached on yesterday, when fears mounted that Greece would have to restructure its debt, possibly as early as this summer. Traders cited technical support near $1.42 and automatic buy orders that were triggered above $1.4250. The eurozone composite PMI (a measure of the private sector combining services and manufacturing) nudged up to 57.8 from March's 57.6, beating forecasts for a fall to 57.1 and showing business activity in Germany and France continues to outpace the rest of the 17-member common currency bloc. [1] Data showing elevated price pressures and robust economic data in core eurozone countries has helped sustain ECB rate hike expectations, and this has buoyed the single currency despite the lingering sovereign debt crisis in the region's peripheral markets. At noon in New York, the euro was last trading up 0.5% at $1.4309, after rising as high as $1.4327. It fell about 1.4% on Monday, the biggest one-day percentage drop since November. Expectations the European Central Bank will continue raising interest rates to control inflation after hiking this month for the first time since 2008 pushed the euro above $1.45 last week. The currency, however, has come under renewed selling pressure in recent days as worries about debt troubles have resurfaced. Paolo Palazzi-Xirinachs, Chicago

 

Notes: Source: [1] Bloomberg (19 April 2011), [2] Bloomberg UK (19 April 2011), [3] Sydney Morning Herald (19 April 2011), [4] Wall Street Journal (19 April 2011). Chart data supplied by Bloomberg.