Eurozone Going to Recession, Business activity in the eurozone showed slowdown

Great days folks, The latest economic data out of the eurozone is pointing to a possible recession, and that has the euro losing ground to the US dollar today. We reported Business activity in the eurozone showed an unexpected contraction for the month of February, and that is raising fears of economic slowdown. Yeah nitemare is still on going

Meanwhile US dollar is surging against Japanese yen today. The result is a strong expectation for Japanese company earnings, and hopes that things can get back on track for Japan, now that yen weakness is more pronounced.

From Aussie we reported The Australian dollar sank after the minutes of the last central bank's monetary policy meeting indicated that policy makers are ready to ease the policy further. Currently, the Aussie Dollar is attempting to reverse the losses on positive economic reports.

The Japanese yen retreated today against the US dollar and the euro after Greece received bailout from the European Union. The currency pared its losses versus the euro, though, and gained against the Great Britain pound.

Canadian dollar is mixed today in the wake of the Greek debt deal. Instead of heading higher against the US dollar on risk appetite, though, the loonie has been stilted today. Mixed economic data in Canada is contributing to the mixed Forex performance of the loonie.