More Than A Number

While no one forex trading signal will tell you to buy or sell with 100% accuracy, a combination of successfully back-tested technical indicators and an eye on the latest economic news can help you make smart trades. In addition to watching your forex chart, it pays to stay abreast of updates such as the recent announcement by the German government that said green jobs in the country’s renewable energy sector, along with increased spending on environmental protection measures, may just be the key to shortening the country’s worst post-war recession on record.

Reuters reported that according to Deputy Environment Minister Astrid Klug, the 250,000 jobs in Germany’s renewable energies sector will triple by 2020 and reach 900,000 by 2030. Currently, there are about 1.8 million jobs in environmental protection, aided by the 5.5 billion euros that the government has earmarked to improve energy efficiency, reduce carbon dioxide emissions, and increase renewable power generation.

The news does not necessarily indicate a bullish short-term outlook for the euro. Some experts have predicted that it will take the diverse Eurozone longer to recover from the global economic recession than other major economies such as the U.S., China, and Canada. Still, it’s worth remembering as you shape your outlook for the euro in 2009.