Excerpt from: Forex News
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| April 28, 2010 | | Euro zone looks for direction | Exposure to Greek debt -- and Portuguese debt (which could be the next crisis) -- is harming European banks today. Indeed, stocks in Europe are lower as banks pull down indices, and cause fear with regard to exposure to these debt problems.
Germany remains intractable, blocking attempts at a Greek bailout. Even with IMF money in the mix, Germany is not satisfied with Greek austerity measures, and is holding up the process.
Interestingly, this uncertainty is not harming the euro over much today. The euro is gaining against the U.S. dollar, supported by gold and oil prices, which are also higher today. So, while European stock markets may be down, the euro is nonetheless making a good showing in forex trading.
| Topic Tags: euro forex trading, Europe, euro zone, forex trading, Greece, stocks | |
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