Excerpt from: GFT News
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| January 28, 2009 | | EUR/USD gains as equities rally |
The euro is moving higher in forex trading -- especially against the U.S. dollar. After a bit of a struggle yesterday, the EUR/USD pair is moving higher, due in large part to the fact that global equities are rallying this morning. In Asia, Europe and even the U.S., stock markets are moving higher.
One of the reasons that the stock markets -- and the euro -- are showing signs of recovery is due to the fact that there is optimism regarding economic stimulus. The House is considering a massive stimulus package, and the Federal Reserve is expected to announce further measures to help the economy.
Indeed, rallying equities represent a sign of returning risk appetite, and a decline in the desire for a safe haven. This means that the euro is likely to see some more upward movement in forex trading.
| Topic Tags: economic stimulus, economy, EUR/USD, euro forex trading, forex trading, forex trading dollar | |
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