A little bit of risk appetite is helping the euro turn things around today after earlier difficulties.
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While we often think of the loonie as a petrocurrency, the truth might be that it is really more closely related to copper — and that might be giving the Canadian dollar a boost today.
Euro is lower pretty much across the board today, heading down as Forex traders consider policy divergence and whether or not the periphery countries will be able to sustainably move out debt.
Euro is moving higher today, even though there is a plan from ECB President Mario Draghi to add another $1 trillion to banks, and even though economic data in the eurozone has proved disappointing.
US dollar is retaining its upper hand against counterparts today as the good news about initial jobless claims offers speculation that an improving jobs situation could lead to an interest rate hike.