Excerpt from: Forex Analysis
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| July 29, 2010 | | Euro continues above 1.30 in forex trading | The U.S. dollar continues its weakness in currency trading on the FX market today. Indeed, the fundamentals are favoring the euro in forex trading as the Beige Book's sluggish report contrasts with more robust economic growth in Europe.
Even though the euro has not been able to reach May's 1.31 high against the U.S. dollar, it appears to be finding support at the 1.30 level.
Other risk currencies are slowing as well. Even though the Aussie is higher against the U.S. dollar right now, the kiwi is showing signs of weakness, and there are thoughts that the Aussie could retreat.
But, for now, the U.S. dollar is showing mostly weakness in currency trading on the FX market. That is unlikely to change anytime really soon.
| Topic Tags: currencies, currency trading, euro forex trading, forex trading, FX market, U.S. dollar | |
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