European Union Prepares to Pass Its Own Bailout

by Trader Rich

Euro could strengthen in forex trading on the newsThe euro is hoping for a shot of strength in forex trading today as the European Union prepares to pass a bailout. The plan is to help stimulate the European economy with a 4 billion infusion of capital. CNN Money reports on the hopes for the economic stimulus:

They said they were certain this "will make a decisive contribution to the European economy’s rapid return to the path of growth and job creation."

The number is just a drop in the bucket compared with massive amounts being used in the U.S. to fight recession. But with the auto industry bailout failing last night in the Senate, it is possible that this could help the euro back on its feet, since the fundamentals in the U.S. are so poor.