Forex Trading Live Update, Thursday 21st June

by Joe Oliver, Forex Trading-Pips

The euro fell versus most major currencies on Thursday after Moody’s Investors Service told banks it may announce credit downgrades today for as many as 17 lenders and securities firms. According to Bloomberg the ‘Moody’s announcement may come after the close of trading in New York today’.

EUR 60 minute bars

EUR 60 minute bars

Purchasing managers’ indices for the euro region showed private sector activity shrinking at the same pace as in May, the fastest pace in almost three years. Germany, which has so far been resilient during the euro zone recession, reported significant declines in manufacturing. Germany’s “composite” index slipped from 49.3 to 48.5 while the country’s manufacturing index dropped from 45.2 to 44.7, a three-year low.