Excerpt from: Forex Commentary
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| July 16, 2010 | | Euro in forex trading | The euro is looking to break through the 1.30 level in forex trading against the U.S. dollar. The euro is regaining much of its strength as optimism about the economy, coupled with concern about U.S. fundamentals, provides some interest in the euro.
Indeed, even the news that the trade deficit in Europe has widened is not damping the euro. Instead, forex traders have chosen to look at the news as proof that demand in Europe is rising, and that the economy is likely to improve.
This comes on the heels of the Fed downgrading the U.S. economic outlook. With the fundamentals of the U.S. economy still improving very slowly, and with weakness, it is little surprise that the euro is finding some strength in forex trading.
| Topic Tags: currency trading, euro forex trading, euro zone, forex traders, forex trading, U.S. dollar | |
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