Euro Gains Broadly

Last week saw a rise in risk sentiment as investors took advantage of the forex investment opportunities provided by the Euro and other currencies. The Euro gained broadly last week trading at a high of $1.37. Many believe that the Euro will offer even more forex opportunity this week and the Euro may go as high as $1.40. The Euro gained broadly during the week but gains were pared later in the week as data showed a decline in industrial production in the Euro Zone.

Latin American Currencies Perform Well

Last week also saw forex opportunities offered by Latin American currencies. The Columbian Peso, the Mexican Peso, and the Brazilian Real all rose against the dollar. The New Zealand dollar was one of the biggest beneficiaries of the rise in risk sentiment.

Canadian Dollar Up

The Canadian dollar provided investors with forex opportunities and rose to 81.33 cents US. The weakness of the US dollar and rising oil and gold prices are credited with the Canadian dollar’s rise. Moves by the Federal Reserve were blamed for the US dollar’s fall and investors fear the Fed’s moves will cause inflation. The Fed will purchase $1 trillion dollars worth of government and mortgage backed debt.

Dollar Experiences Record Weekly Fall

The US dollar experienced its biggest fall since 1985 as investors sold the dollar in favor of the forex opportunities offered by other currencies. Investors took advantage of forex opportunities offered by the Swiss Franc last week. Earlier in the week the Swiss National Bank entered the forex market selling the Franc against the Euro and the US dollar. Gains by the Franc were pared later in the week after a bank official stated that the global recession needs more stimulus policies.

Stimulus Measures Having Effect

The ascent of some major currencies has provided many with forex investment opportunities. Many believe that the stimulus measures introduced by governments are beginning to have an effect. Most agree that stabilizing the financial sector must take place before recovery is possible. With recovery comes increased forex opportunity for all.

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