Euro Maintains Strength in Forex Trading
by Trader Rich
Currency trading with EUR/USD
The euro is maintaining its strength in forex trading on the currency market. Indeed, this strength continues even after the recent downgrade of Portugal. It seems as thought sovereign debt problems are no longer weighing on the euro in forex trading.
Even after the German consumer confidence report dropped, the euro has not been affected. However, perhaps the support for the euro is coming from the fact that economic activity continues to grow, with inflation on the rise. As a result, many forex traders still expect the ECB to raise rates sooner rather than later.
Also helping the euro is likely the fact that U.S. dollar continues to struggle. The U.S. economy is not doing well, with the housing market continuing to show problems, and with concerns about U.S. sovereign debt mounting. It could be that recent euro strength is more about U.S. dollar weakness than it is about euro zone strength.
- Economic Nes and Currency Trading
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