Forex Blog: Currency Trading News & Analysis.

April 1st 2005

Strong Euro threatens member economies

European manufacturing has hit 4-month lows, threatening economic growth in the area. European exporters are complaining that the strong Euro has rendered their products uncompetitive in international markets. European companies that sell their products exclusively to Europeans have also found reasons to complain. Comparatively cheap products from Asia, and even America have undercut their European counterparts. Unemployment is rising across Europe, and leaders are looking for someone or something to blame. If the situation continues to worsen as it looks likely to do, I would expect European leaders to begin pressuring American officials to appreciate the USD. Reuters reports:

The fall in exports was largely attributed to the Euro’s strength and slowing global demand, Williamson said, but euro zone manufacturers also faced intense competition from cheaper imported goods from China in their home market.

Read More: Strong euro curbs euro zone manufacturing growth

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Posted by Adam Kritzer | in Euro | No Comments »

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