The euro outlook appears to be improving in forex trading. Indeed, even though things are still a bit unsettled due to Greece, some of the fears on that score are abating. Now investors are turning to other information.

ECB officials are cautiously optimistic. They believe that recovery is coming, even though it might come slowly. GFT's Kathy Lien reports in FX360 on the current situation with euro in forex trading:

According to the ECB, rates are appropriate and inflationary pressures are low. Even though the central bank expects to gradually withdraw monetary stimulus, an uneven and moderate recovery is expected given their uncertain outlook. Compared to the rest of the world, the Eurozone faces relatively unique risks and the big deficits in particular will “place extra burden on monetary policy.”

Specifically helping the euro in forex trading this morning is a return to risk appetite, with U.S. stock futures pointing higher, and optimism about global recovery on the rise.

Things are in upheaval in Greece again as workers strike in protest over the austerity measures meant to help bring Greece's financial situation under control.

Workers went on a 24-strike to protest austerity measures, causing Greek bonds and stocks to fall. The strike is also affecting other stock markets throughout Europe, with indices in Frankfurt and Paris lower. The FTSE 100 is down, too, today. (In the U.S., stock futures point to a lower open.)

Greeks are not happy with planned wage cuts and other measures meant to help get Greece's deficit under control and restore confidence in the country. However, as long as Greeks protest the move, putting pressure on the government, the Greek problem risks spreading to the rest of the euro zone.

Earlier in the session, the euro struggled in forex trading against the U.S. dollar. In large part, this was due to the weak trade numbers coming out of Germany.

As the largest economy in Europe -- and the euro zone -- Germany is very influential in terms of how the euro does in spot forex trading. 

However, this weaker trade data has been gotten over, for the most part. With European stocks managing to hold on to their gains, and with the U.S. stock market opening higher, there is some optimism, also helped along by positive news out of China. For now, the euro has pared its earlier losses and is moving higher in spot forex trading.