The common currency magnifies the butterfly effect of positive or negative shocks within the Euro zone.
On the negative side, the Euro zone construction industry showed its sharpest decline in several months in October.
Even with all of the dollar negative data though, the support zone slightly below 1.0300 has held sturdy.
Lackluster economic data as well ongoing concerns in the euro zone sent the markets into negative territory today.
Moody's cut its forecast for the U.K. economy, saying Britain's economic and fiscal outlook have weakened due to the euro-zone crisis, though it kept its negative outlook and triple-A credit rating on the country.
Political instability or uncertainty in the euro-zone's third-largest economy will have negative systemic consequences for everyone else.
The markets made a bit of a recovery from the lows of the day but remained in negative territory amid lackluster economic data and ongoing concerns over the euro zone.
Meanwhile, the United Kingdom (U.K.), a member of the European Union but not of the euro-zone, has already reported that its economy has been negative for two straight quarters, officially in a recession.
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The latest GDP statistics in the Euro-zone countries are barely positive and the trend is leading to significant negative numbers for the current quarter.
If the negative momentum remains intact near and medium term, the bears could force a test of that zone during the first quarter.
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His approach was harder to pull off: raise the bar, create a zone of privacy, don't fall into the trap of trying to prove a negative.
Even with the negative Chicago Fed data though, the loonie may still struggle to push through the 25 pip wide support zone found just below 1.0300.
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