Top Stories
by ForexNewsNow Team on December 29th, 2010

EMU M3 money supply rises more than expected, data show

usd eur rate euro zone fx tradingNEW YORK (Forex News Now) – The euro zone’s M3 money supply rose more than expected in November, data showed on Wednesday in one of the day’s major realtime forex news events.

In a report likely to impact currency market trading, the European Central Bank said that the total quantity of domestic currency in circulation and deposited in banks rose by 1.9% in November, up from the revised mark of 0.9% recorded the previous month.

Analysts had expected the November data to show a rise of 1.6%, at least two online FX trading news sites reported.

Money supply is important for FX traders because of its connection to interest rates; an increasing supply of money early in an economic cycle can lead to more spending and investment, while later in the cycle it leads to inflation.

By ForexNewsNow Team

This is a general account of the ForexNewsNow Team. It is used to published exclusive content carefully crafted by our experts as well as it is used to bring you the most recent industry highlights from our guest contributors that wish to remain anonymous.

More content by ForexNewsNow Team

Comments (0 comment(s))