Euro Zone to Get Help From China
Euro forex trading forecast looks up
Even though a bailout for Greece is widely expected, there are still concerns about the euro zone in general. Other countries, like Portugal and Ireland, still have debt issues. However, the euro zone might get some help from China.
China is pledging to buy European debt in an effort to keep the 17-nation currency zone running properly. China plans to invest in the sovereign debt market, to the tune of billions of euros.
Not only is the news helping in terms of providing help for the debt crisis in Europe, but the euro is getting a boost as well. If China turns more toward European assets, the U.S. dollar could lose some of its support.
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