Euro Gets a Boost in FX Trading
November 20, 2008
Euro forex trading forecastEven though stock futures were pointing lower this morning, there has been a bit of a bounce this morning on the U.S. stock market, and that is helping the euro in FX trading on the currency market.
The euro forex trading forecast might be looking up a bit as we progress, making an attempt to break out of the down trend that it has been stuck in for about a month.
Optimism for the euro comes from hope that there might really be a recovery for stocks around the corner, reports Bloomberg:
“The euro advance has been triggered by the bounce in the U.S. equity futures after the SNB cut,” said Adam Cole, the head of global foreign-exchange strategy in London at Royal Bank of Canada. Currencies “are taking their lead from stock movements at the moment,” he said.
Of course, in the current financial climate, where confidence can be shattered by the smallest thing, there is no telling when the euro forex trading forecast will turn downward again.
See Also
- Euro in Forex Trading
FX trading on the currency market
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