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Strategies & Market Trends : Currencies and the Global Capital Markets

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To: Henry Volquardsen who started this subject	12/25/2000 7:19:50 AM
From: friverola	of 3536

Happy new year for euro? (Financial Times) fxstreet.com The euro will be two years old on Monday January 1 but the birthday celebrations will be muted. While the single currency has rallied to more than 90 cents against the dollar in the closing weeks of 2000, it remains far below the $1.18 level at which trading started in 1999. The much-publicised decline in the value of the currency has posed a public relations dilemma for euro-zone politicians and central bankers who have been torn between concern over the inflationary consequences of its weakness and intermittently veiled satisfaction at the substantial improvement in export competitiveness which it has also provided. The relative movements of the euro and the dollar have been one of the key factors in pushing the growth rate of the euro-zone economies above that of the US during the closing months of 2000. That favourable scenario is likely to be reflected in the economic data to be released on both sides of the Atlantic on Friday December 29. In the euro-zone the French November unemployment figures are expected to show a further decline while in the US the influential Chicago Purchasing Managers survey is likely to confirm that the pace of activity in a key sector of the US economy is slowing down rapidly... fxstreet.com

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