German Employment Rises
by Trader Rich
Euro finds support in forex trading
Today, the euro is finding support in forex trading as employment in Germany heads in a positive direction. The euro is gaining against the U.S. dollar, which is falling today, as better news supports high beta currencies on the FX market.
Germany is very important to the euro zone, which is why good news coming from Europe’s largest economy has such an impact. Germany influences the direction of the euro in forex trading, and the fact that the employment picture is starting to improve is good news.
Another bit of help to the euro in forex trading is the fact that the U.S. economy expanded in the third quarter. The news that GDP has expanded is helping matters, and showing that the recession is over (at least in the U.S.), and that economic recovery could be on the way.
- Economic News and Forex Trading
Currency trading on the FX market