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07/15/2010, Scot Ringa: The Euro extended its rally from earlier this week and has made a fresh two-month high against the USD closing the day out just below 1.2900. The ECB left its key interest rates unchanged, and said that it expects its economy to expand at a moderate but uneven pace. Many analysts agree that EUR/USD has seen its low for some time to come as investors seemed to have gained some appetite for risk as investors roll out of dollar safe-haven trade.
06/12/2010, Scot Ringa: In a Q&A session June 11th ECB president Thrichet said that the Central bank would most likely leave its rate steady through 2010, the EUR/USD has finished the week just off its 4-year low of 1.1874 to settle Friday at a touch under 1.2100 per US dollar. There was much speculation this week through the Forex markets about Hungarian officials comments that its finance problems could compare to that of Greeces. Although Hungary is not a EURO member it could hurt the EURO currency by highlighting the risks of Sovereign downgrades. The Euro failed to close above an important Technical level of 1.2170 area, fueling more speculation that selloff in the EUR/USD has yet to continue. Some experts claim that the over the next year you "could" see the EUR/USD at parity.
Exchange Rates: Euro, Pound Sterling, and Yen to US Dollar
Foreign Exchange Rates
Global Perspective 20