Excerpt from: Forex Commentary
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| July 30, 2010 | | EUR/USD retreats on currency market | The euro is pulling back in forex trading on the currency market today as concerns about the economy become uppermost. Euro has been falling against the U.S. dollar due to profit taking after its good run earlier this week, but some of the concern is also waning risk appetite.
Concerns about economic recovery are asserting themselves as retail sales miss the mark, and as concerns about second quarter GDP mount.
EUR/USD is still above the 1.30 level on the currency market, but it remains to be seen how long the currency pair can retain its position.
| Topic Tags: currency market, EUR/USD, euro forex trading, forex trading, GDP, risk appetite | |
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