Excerpt from: GFT News
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| April 06, 2009 | | U.S dollar gaining in currency trading | Earlier, risk appetite seemed to be increasing in currency trading on the FX market. Now, however, things appear to be turning a bit. The U.S. stock market is in retreat this morning, and that is spurring demand for the U.S. dollar as a safe haven.
The euro is pulling back in forex trading as confusion and a bit of pessimism return to the financial markets. The U.S. dollar is back in demand as a safe haven. Part of the problem is that bank losses are expected to mount, and Quarter 1 earnings from companies are coming in.
With concern over company earnings, the stock market is pulling back. This means that currencies that rely on the return of growth to the global economy -- currencies like the euro and the pound -- are going to be seeing some trouble today in forex trading.
| Topic Tags: currency trading, euro forex trading, financial markets, forex trading, FX market, risk appetite, stock market, U.S. dollar | |
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