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Euro Manages to Improve
For investors looking for an improvement in the risk sentiment, this week was the week for it. Although the downgrading of nine, euro zone nations worried investors at the start, and the continued financial struggles of Greece continued to weigh in, the euro did manage to improve for the day. More so, it improved for the week, pushing the US dollar lower. Investors were eager to take on the risk since most had a positive outlook on a solution for Greek debt occurring.
Investors Eye Risk Factors
The week's trading centered around the risk involved with the euro. The investors kept the US dollar as their strong and stable currency for the week as they shied away from investing in the euro. By the end of the week, the euro would drop by more than .04 percent from the US dollar. And, the drop in the credit ratings of sovereign countries would also cause a number of problems for investors who continue to be worried about the financial stability of the euro.
Investor Try Out Risk but It Remains Too High
During the trading session for the week, though trading remained light due to the holidays, investors took to the euro at the start of the week. Investors seemed anxious to purchase the euro in an effort to make a profit, but poor economic conditions pulled the euro back and the perceived safety of the US dollar pushed it higher. As a result of US economic data and the fears in the euro zone over financial debt concerns, the euro remained down for the week and the US dollar higher.
Holiday Thins Market But Dollar Gains Annually
The US dollar managed to close out the year up for the second year in a row. The market trading during this week was light, especially on Monday and Tuesday for the holidays. However, investors looked positively on the increase in the US economy, which continuing to worry about the euro zone.
Lower Volume But Still Risk Aversion
Investors play the risk and wait game throughout the week's session. While the US dollar continues to be the currency of choice due to the struggling euro zone, investors are willing to take some risk on positive US economic data. this helps to motivate sellers to push back into the euro, but by the end of the week, risk aversion remains a big factor. Light volume during the end of the week due to the Christmas holiday skewed some information.
Fear Grips Market
The currency market focused primarily on the euro zone financial crisis. Unemployment's lack of improvement in the US, but improving economic conditions in the US and in some areas of Europe also played a role. The US dollar managed to improve significantly throughout the week. The euro fell below the psychological threshold of US $1.30 and barely made it back above by the end of the week.
