The US dollar fell in European forex trading, after stronger-than-expected data from China and Germany gave forex traders some confidence and can-do, risk-on, “hope and change” kind of attitude. The EUR/USD forex pair reached 1.2807.
Later on, however, as US forex folks came in, we saw EUR/USD come down to 1.2710. At the time of writing it is sitting at 1.2716
When will it break under 1.26? After the two attempts in the last two days, it’s a matter of time now…

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The Euro edged 5 pips higher versus the US Dollar and most other rivals on the forex markets today! Amazingly thin markets… it must be the holiday season. Anyway, my view for the year 2012 is that the euro will continue its downward ride. I am willing to place a final target to this move: EUR/USD reaching parity (1.00). I’m also moving my stop to breakeven (1.3271). So, now I hope I can keep my short open for quite some time…

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Risk on! The US economy is “booming”. The Merry Christmas season will be happy affairs for businesses.

I’d be happy to see the NFP figure on Friday…

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The US dollar dipped just a few moments ago after it was reported that China may be ready to buy Italian bonds helped calm forex market speculators freaked out by Europe’s ongoing debt concerns.

The US dollar is usually regarded as a safe haven in times of forex market turmoil, and not surprisingly forex speculators flocked to the currency as risk appetite evaporated yesterday.

The EUR/USD forex pair is currently trading at 1.3658

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