Source: ForexYard
The euro staged a mild recovery in overnight trading against the US dollar, but still remained bearish due to record high Spanish bond yields. Crude oil also took losses last night, while gold continues to benefit from its status as a safe-haven asset. The precious metal is currently trading above $1630 an ounce.
Main News for Today
German ZEW Economic Sentiment-09:00 GMT
• Analysts are predicting the figure to come in at 3.8, well below last month’s result of 10.8
• If true, it may raise fears that the euro-zone crisis is spreading to other countries in the region and may result in further euro losses today
US Building Permits- 12:30 GMT
• Analysts are forecasting a slight increase over last month’s figure
• Should the news come in above expectations, the dollar could see gains against the yen today
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