The Euro extends decline as consumer confidence in the Euro area falls in July

The Takeaway: [Euro zone consumer confidence drops] > [could signal further economic recession] > [EURUSD down]
The confidence of consumers in the 17-nation eurozone fell slightly in June in the uncertainty in the head, to June 17 elections Greek and Spanish banking bailout of the sector. The Brussels-based European Commission, reported today that the indicator of consumer confidence flash in the block of the single currency fell slightly to-19.6 in June, after rising last month at-19.3. The consensus forecast 28 economists surveyed by Bloomberg News had requested a decrease of - 20.0.
With more contraction in the manufacturing and services sectors, the decline in the perception of household could report that the economic stagnation in the euro zone deepened in the current quarter.
Chart 1-minute EURUSD: 21 June 2012
Graph created with the scope of the market - prepared by Chen Wen - Tzu
The euro extended its fall against the greenback, as declining among consumers adds to an increased risk of contracting spending households and signals of slowdown of growth in the euro zone. At the time of this report, the EURUSD pair has less than US $ 1.2600 commercial.