Excerpt from: Forex Commentary
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| February 11, 2010 | | Currency trading with the Aussie | The Australian dollar is getting a boost in forex trading as the risk trade is on -- for some currencies. In currency trading, the Aussie is getting a little help from the fact that Chinese bank lending grew more than expected in January, and that is calming some fears that the Chinese economy is slowing.
China is very important to the Australian economy, since it is one of the biggest trading partners. Demand for resources from Australia to China is one of the biggest drivers of the Aussie economy.
The story is different for the euro, though. Normally the euro benefits in forex trading from a healthy risk trade, but troubles over the Greek rescue package, and other concerns about the health of the euro zone, have the 16-nation currency unable to rally against the U.S. dollar.
| Topic Tags: Australian dollar, currency trading, euro forex trading, forex trading, Greek rescue, risk trade, trading Aussie, U.S. dollar | |
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