Source: ForexYard
The euro remained near a three-month low against the US dollar and JPY in overnight trading as investors await news regarding a possible new Greek election in the next few weeks.
Main News for Today
UK Manufacturing Production- 08:30 GMT
• Forecasted to come in at 0.5%, well above last month’s -1.0%
• If true, the GBP may see gains vs. safe-haven currencies
UK Official Bank Rate/MPC Rate Statement- 11:00 GMT
• MPC isn’t expected to adjust British interest rates
• The MPC Statement could offer clues as to a possible new round of quantitative easing
• Any mention of quantitative easing could turn the pound bearish
US Trade Balance- 12:30 GMT
• Analysts are predicting the US trade deficit grew to -49.8B
• If true, the dollar may see additional losses against the JPY
US Unemployment Claims
• Unemployment Claims forecasted to have increased to 371K
• Anything above 371K could result in dollar losses during afternoon trading
US Fed Chairman Bernanke Speaks- 13:30 GMT
• Following last week’s disappointing Non-Farm Payrolls figure, investors will be closely watching today’s speech
• Any mention of a new round of quantitative easing in the US could result in heavy dollar losses against the yen
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