Source: ForexYard
The euro fell to a fresh 3 ½ month low against the US dollar in overnight trading as political uncertainty in Greece continues to weigh down on the common currency. In addition, crude oil reversed its gains from yesterday afternoon and is once again trading below $96 a barrel.
Main News for Today
UK PPI Input- 08:30 GMT
• Analysts are predicting that the figure will come in at -0.9%, well below last month’s 1.9%
• If true, the pound could extend its losses from last night against the USD and JPY
US PPI- 12:30 GMT
• The US PPI is forecasted to come in at 0.0%
• A better than expected figure could help the USD recover some of its losses vs. the JPY
• Positive figure could also lead to gains for crude oil
US Prelim UoM Consumer Sentiment- 13:55 GMT
• Consumer sentiment figure forecasted to come in at 76.4
• A better than expected figure could help the USD against JPY and give commodities like crude oil a boost to close out the week
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