Euro surged versus Dollar

Wednesday, 3 August 2011 11:45

European Final Services PMI in July which measures the level of a diffusion index based on surveys by purchasing managers' in the services industry, was released a 51.6; a little better than expected 51.4.

Euro/Dollar dropped down to 1.4169 from yesterday's 1.4254.  Perhaps the result of a positive vote on the debt plan, but the Euro fought back and flew sky high is today's trading session.  The pair surged over 100 pips from 1.4169 to 1.4277; marking a session high.  The Euro seems to have a positive attitude for the time being.

European retail sales are coming up.  Economists expect EU retail sales to improve by 0.5%.