Excerpt from:  Forex Analysis
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June 18, 2010

Euro Moves Higher in Forex Trading

Currency trading with the euro

The euro is moving higher in forex trading against the U.S. dollar today as some good news helps support the risk trade to some extent. Euro is benefiting from good news out of Germany, with German PPI higher than expected.

The euro is also being supported by stronger gold prices. Gold prices often help support the euro in forex trading against the U.S. dollar. With gold prices making a run at $1,260, it is little surprise that the euro is getting a little help from that.

Also helping the euro are plans that Spain has for more debt auctions. Demand for the last auction was great, and Spain has hopes that it will be able to avoid Greece's fate. It will be interesting to see how things go, and whether the euro can find solid support.

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Topic Tags:  currency trading, euro forex trading, forex trading, German PPI, gold prices, Spain, U.S. dollar

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