The Japanese Market had a good day on Tuesday, I believe.
The problem with the EURO is more that just the usual concerns for all the markets these days, it doesn't have a strong 'history' and that is the unfortunate part. The EURO was developed for the European Union which is still in its early years although the governments comprising the EU are long lived. The problem is the countries within the EU have inherent problems and while they are buoyed through all this with the expertise of better established countries in Europe they will add to apprehension regarding investors. The EURO will regain its value when the markets start to pick up.
Consumer spending across the globe will increase when the stimulus monies are circulating as Americans purchase over 'the net' frequently to keep costs down and for the first time in a long time, it might be Americans that are seeking bargains in Europe with exchange rates better.
CURRENCIES
Dollar gains as U.S. stocks slip (click title to entry - thank you)
By Lisa Twaronite, Deborah Levine & William L. Watts, MarketWatch
Last update: 5:16 p.m. EST Feb. 25, 2009
SAN FRANCISCO (MarketWatch) -- The U.S. dollar pushed higher against most major rivals Wednesday as downbeat economic data and more weakness on Wall Street increased safe-haven flows to the greenback.
Dismal global data also weighed on the euro, Japanese yen and British pound....
...The dollar's rise was "confirming to us that despite the waves of optimism that show up in intermittent equity market rallies, there is still a strong sense of fear of the unknown apparent. That's showing up in growing demand for the dollar," said Andrew Wilkinson, senior market analyst at Interactive Brokers Group in Greenwich, Conn....
..."The downgrade reflects a deeper problem in the euro zone," said strategists at brown Brothers Harriman. "Greece is suffering from an inability to compete not just in the euro zone but also outside the euro zone."
The U.K. Office for National Statistics confirmed an earlier estimate pegging the quarterly decline in British GDP over the final three months of 2008 at 1.5% -- the steepest fall since 1980. The third quarter was downwardly revised to show a 0.7% contraction following an earlier estimate of a 0.6% fall.
The data showed a 0.7% quarterly fall in real consumer spending and a 2.3% fall in investment.
