FXstreet.com (Barcelona) - EUR has gained more than 100 pips against USD in the last hour from 1.2921 to 1.3031 after the US opening bell. Currently the pair is trading around 1.3025/35 after rising 0.72% so far today from opening price at 1.2936.
IMF has said global recession will be deeper and the recovery will take more than previously expected. Even once the crisis is over, there will be a difficult transition period, with output growth appreciably below rates seen in the recent past affirmed IFM in its global outlook.
After lower opening, Wall Street is rising now, Dow Jones rises 0.09%, S&P 500 gain 0.02% and Nasdaq is 0.83% up today.
Valeria Bednarik, FXstreet.com Collaborator, says: Euro quickly breaks to the upside, despite a lower opening in Wall Street do to Morgan Stanley negative report, Dow Jones is growing fast, approaching to yesterday's high, just under the 8000 resistance zone. Recoup of that level, could trigger more optimism in the markets, and push Euro further up.
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