Monday, 26 Apr 2010

Dollar Strengthens As Risk Appetite Reduces

The Dollar saw a bullish correction against the Euro during today's trading session. The Dollar gained about 100 pips vs. the Euro, and the EUR/USD pair is currently trading at the 1.3330 level.

The Dollar strengthened today as concerns regarding the Greek fiscal crisis continues to impact the market. Investors continue to wait for concrete updates that show real progression with the Greece debt crisis. Until then risk appetite reduces, and as a result the demand for the Euro decreases.

Looking ahead for tomorrow, a batch of data is expected from the U.S. and the Euro-Zone. The most interesting economic publication tomorrow looks to be the U.S. Consumer Confidence. Analysts have forecasted that the consumer confidence rose to 53.6 on April. If the actual result will be similar, the Dollar might strengthen further.