Euro in Forex Trading

235628 Resource 119247 120646 120646 1246540063647 1246540063647 Controlled Euro Pulls Back Against U.S. Dollar in Currency Trading

Euro in forex trading

The euro is falling to the U.S. dollar in currency trading on the FX market today. The euro is gaining in forex trading as China continues to say that it supports the dollar as the global reserve currency. And China does support the dollar. For now. (What <a href="item/235623" target="_blank" title="euro forex trading, forex trading, currency trading, dollar currency trading, U.S. dollar, euro zone, unemployment">China is doing for the long term</a> is another story altogether.) For the short-term, China's continued use of the dollar will continue to provide limited support for the dollar in currency trading.  Another issue affecting the euro in forex trading is economic data. Even though German employment saw some improvement, overall the euro zone is looking pretty grim. Yesterday's enthusiastic rally is being overshadowed as forex traders moderate their optimism. GFT's Boris Schlossberg reports in FX360 on the <a href="http://www.fx360.com/commentary/boris/1479/dollar-gains-ground-as-china-dismisses-reserve-speculation.aspx?aid=5704" target="_blank" title="euro forex trading, forex trading, currency trading, dollar currency trading, U.S. dollar, euro zone, unemployment">latest euro zone unemployment issues</a>: <blockquote> EZ unemployment rose to 9.5% from 9.3% projected as conditions in southern Europe deteriorated further. As we’ve stated before the risk of EZ unemployment rolls rising into the second half of 2009 remains quite high especially if German efforts at “short work week” arrangements begin to fail. Many analysts now expect the EZ rate to climb into double digits mirroring the labor conditions in US. </blockquote> This renewed concern about the economy means that the U.S. dollar is once again ascendant in currency trading as a safe haven. 9 application/xml false Boris Schlossberg currency trading dollar currency trading euro forex trading euro zone forex trading FX market U.S. dollar unemployment Euro in Forex Trading Currency trading on the FX market http://www.fx360.com/?aid=5704 Mozilla/5.0 (Macintosh; U; Intel Mac OS X 10.5; en-US; rv:1.9.0.11) Gecko/2009060214 Firefox/3.0.11 GTB5 127.0.0.1 127.0.0.1 mmarquit 63.248.48.57 false true false false true 119247 blog blogsite/GFTForex/web