Euro Gets a Boost as Risk Appetite Improves
by Trader Rich
Euro in forex trading
The euro is getting a boost in forex trading on the currency market, thanks to improved risk appetite. Indeed, equities around the world are heading higher, and that is helping high beta currencies like the euro.
Euro is getting help from economic data showing that personal income and personal spending is on the rise in the U.S. Also helping is the growth in the Chicago PMI data. Economic growth in the U.S. and other countries is prompting some optimism in forex traders, providing them with the confidence to take some risk.
There are still some issues with the U.S. economy, though. Pending home sales declined, and the labor market remains rather slow in terms of growth. Things could change quickly, but for now the focus is on the positives of the euro in forex trading. U.K. pound and Aussie are also higher in currency trading.
- Economic Data and Forex Trading
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