Source: ForexYard
The euro continued to slide during overnight trading, following negative euro-zone news released yesterday. The EUR/USD dropped as low as 1.3133, while the EUR/JPY fell to 105.30.
Main News for Today
ECB Press Conference-12:30 GMT
o Any pessimistic signs from the ECB regarding the euro-zone economic recovery could result in the euro falling further vs. the USD and JPY
Spanish Debt Auction
o This will be the first Spanish debt auction since Spain’s credit rating was downgraded last week
o Should the results of the auction disappoint investors, the euro could see additional losses
US Unemployment Claims- 12:30 GMT
o Following yesterday’s ADP Non-Farm Employment Change, investors will be watching this figure for additional clues as to the current state of the US employment sector
o A disappointing result could lead to losses for the USD vs. safe-haven currencies like the JPY and CHF
US ISM Non-Manufacturing PMI-14:00 GMT
o The US Manufacturing PMI released earlier this week came in better than expected and resulted in significant gains for the USD
o Should today’s news come in above the forecasted 55.5, the dollar could move up vs. its main currency rivals
Forex Market Analysis provided by ForexYard.
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