Excerpt from: Forex Tips
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| January 27, 2012 | | Greenback pressured in currency trading | US dollar is lower in forex trading, heading down as concerns about the economy once again take center stage. Greenback is lower in currency trading, pressured as concerns about GDP and jobless claims take precedence.
Indeed, worries about US GDP are rising, and jobless claims are rising as well. This is in contrast with recent data out of the eurozone that has been better than expected. Eurozone data has beat expectations, and that is helping the euro -- even though there are still issues related to Greek debt.
For now, the dollar index is losing ground, but the situation is still volatile, and the story could change quickly. It will be interesting to see what happens next, and what news shapes the forex market going forward. | Topic Tags: currency trading, euro, forex trading, GDP, Greek debt, jobless claims, US dollar | |
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