Consumer Confidence Drops in the Euro Zone

Consumer confidence in the euro zone has fallen. Concerns about the lingering problems in Greece are weighing on consumers. Additionally, worries are mounting about a spread of the sovereign debt contagion. Bank stress tests aren’t calculated to make things any easier for those in the euro zone, either.

However, even with this lack of consumer confidence, the euro is higher in forex trading. Even with global uncertainty as to what’s next, the euro has the upper hand in forex trading right now.

Perhaps it is because European leaders are getting ready to hammer out a debt solution for the euro zone, and concerns about the U.S. economy are still quite potent. With worries about a U.S. slowdown, with the latest existing home sales data as evidence, and concerns about default, the U.S dollar doesn’t have much to recommend it right now, and markets are confused. 

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