Unemployment rates close to 5% in Germany versus 25% in Spain it’s the real picture of Euro recovery showing that lot of work still need to be done in specific countries of the union, Germany is getting all the attention, where Spain and other countries are left behind.
When EURUSD reached 1.3990 in May, after the market did switch direction and the bearish fall still controlling the market by taking the price to 1.3217 The rise of EURUSD was ok for Germany but not for Spain economic recovery. In June 2014 Unemployment rate fell -0.10 where Q2 2014 GDP scored +0.04 % showing that export kept booming in specific Europe regions.
Producer price index advanced in June 2014 by +0.13 % where in July consumer price index decreased 0.65 %. On the other hand Europe stocks did perform in green this week before market close, where FTSE MIB Index advanced +2.07 % .
Economic recovery is slow in Europe as the Euro Zone need a weaker EURUSD under 1.35 for countries like Spain to recover faster.
Provided by Fxhighway LLC