Source: ForexYard
The euro sank to a three-month low against the US dollar during overnight trading as investors continue to digest the results of yesterday’s elections in France and Greece. Crude oil extended its bearish trend as well, dropping over $2 a barrel during Asian trading.
Main News for Today
EUR Sentix Investor Confidence- 08:30 GMT
o Level of investor confidence is forecasted to have dropped since last month
o A final result of below -15.3 may lead to additional losses for the euro
EUR German Factory Orders- 10:00 GMT
o Factory orders in Germany forecasted to have gone up since last month
o A final result of over 0.5% could give the euro a temporary boost
CAD Building Permits- 12:30 GMT
o USD saw major gains against CAD due to risk aversion in the marketplace
o With today’s news forecasted to come in well below last month’s, the loonie’s bearish trend may contine
o A final result of below -0.5% could lead to additional losses for CAD
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