Euro Gets Boost in Forex Trading

Euro heads above the 1.29 level against the US dollar

Euro is getting a boost today in forex trading as optimism makes an appearance. Forex traders are turning to riskier assets today as good news is released on a number of fronts.

Jobless claims in the US are lower, and European debt auctions went better than expected. French borrowing costs are lower, and Spain sold more bonds than expected. Additionally, Greece looks to be on the verge of a deal. The good news has many hopeful that disaster can be averted.

As a result, the euro is getting a boost in forex trading. The 17-nation currency is heading higher, moving through the 1.29 level against the US dollar. Stocks are higher, and commodities, interestingly, are retreating. Things could change quickly, though. The situation is far from settled, and there are still plenty of obstacles for the eurozone to overcome. 

See Also

• Economic News and the Euro in Forex Trading
  Currency market news