Forex watching Italy and the Euro

One of Italy’s most well known fashion branded export Benetton has reported a fall of 38% in their quarterly profits on the first quarter of 2009. Benetton is the well known fashion brand that was widely recognised by their unusual and sometimes controversial advertisements. The fall in net profits of over 190 million Euro on the same sales period from last year. Forex investors will watch closely the profit, losses and changes that companies like Benetton make over the coming year. The Forex market relies on the indicators of retail, manufacturers and exports in general especially from key currency markets such as the EU to show overall trends and to gauge changes and fluctuations in the Forex market. The key changes that Benetton have announced is that there will be a delay for when their Autumn Winter collection will hit the sales. They are also reorganising their production in terms of source product, output and shipping . Benetton have stated the ‘unfavourable euro exchange rate with the currencies of emerging countries’ such as the Korean won, the Indian rupee, the Turkish lira and the Russian rouble as having affected their sales and first quarter results.

SOURCE: http://www.tradetnt.com/forex-watching-italy-and-the-euro/1442.html