The euro is on the rise in forex trading on the currency market today. Optimism about global equities is helping, as is the fact that gold prices are surging to new records today. In currency trading, EUR/USD normally moves in tandem with gold prices.
Euro is getting a great deal of support right now in forex trading as the risk trade moves forward. And the euro isn't the only currency benefiting from the current state of affairs: The U.K. pound is also heading higher in currency trading on the FX market.
As commodities improve, and as the global economic recovery creates demand for commodities, the U.S. dollar is expected to continue moving lower in currency trading.
Retail Sales Dip without Cash for Clunkers
September retail sales data is in for the United States, and it appears as though there has been an overall decrease. However, it is worth noting that, if auto sales are taken out of the picture, retail sales were actually up.
Clearly, Cash for Clunkers had a great deal to do with how well retail sales did overall in August. Without the program, it appears that auto dealers are suffering a bit. However, the news that retail sales without autos are up. It means that other consumer spending may be on the rise.
The news hasn't done much in the way of helping the U.S. dollar, however. Yesterday the euro moved higher, and it appears that today will continue the rally for the euro in forex trading against the greenback.
U.K. Pound Rallies in Currency Trading
Recently, the U.K. pound has been weaker than maybe it should have been in currency trading on the FX market. Now, though, it appears that the sterling is gaining strength in forex trading. And it doesn't seem to be affected by the fact that the FTSE 100 is moving lower today.
The U.K. pound is heading higher on a corrective rally, some analysts believe. The sterling has been unnecessarily weak in forex trading, and this rally is seen as a rectification of that problem. Indeed, it is possible that the pound could make a big breakout move in the coming days.
In the end, the sterling is likely to gain in forex trading as economic recovery goes forward. How many fits and starts are experienced along the way is another question.
FOREX stands for Foreign Exchange - which means currency market. The Forex market is where currencies are sold, bought, in the form of parity. On the Forex market, all currencies are traded in real time, 24h/24h, 7J/7J. The Forex is open since few years to individuals, single investors wishing to diversify their investments or pure speculators. The access to foreign exchange market for individuals is offered through Forex Brokers.
BEWARE: FOREX is a market made volatile by the leverage which is offered to you. Consequently, a risk of important financial losses is always present. Tribuforex provides his internauts some trade ideas and analysis, but will not be responsible in case of losses. The main goal of www.tribuforex.fr is to offer a tool allowing traders to share forex between them.
