Sterling, euro advance in forex tradingChinese economic data is prompting a return to the [B]risk trade[/B] on the FX market this morning. Indeed, the news that China is experiencing solid expansionary forces is helping optimism for global economic recovery. GFT’s [B]Boris Schlossberg[/B] reports in FX360 on the risk trade:
The news sparked a small bid in high beta FX with euro climbing to 1.4750 and pound recovering the 1.6300 handle as the night progressed. [B]Cable also benefited from Moody’s announcement that it will not downgrade UK sovereign debt[/B] helping to relieve some of the concerns that have dogged the pair this week.
This news out of the U.K., that it will retain its Aaa rating for now, is also helping the risk trade. And the latest retail numbers out of the U.S. are also helping [B]risk appetite[/B] as investor confidence increases.
[B]See Also[/B]
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[li]Forex Trading with World Currencies[/li]Currency trading on the FX market
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