Source: ForexYard
After falling more than 150 pips against the US dollar yesterday, the euro staged a mild upward correction during the overnight session. The common currency fell across the board yesterday, after the ECB refrained from announcing any new initiatives to lower borrowing costs in Spain and Italy. The EUR/USD is currently trading at the 1.2200 level, up from 1.2165 last night. Crude oil also advanced close to $1 a barrel during the Asian session and is currently trading just above the $88 level.
Main News for Today
US Non-Farm Payrolls- 12:30 GMT
• The employment indicator is considered the most important news even on the forex calendar
• Analysts are forecasting that the US added 101K jobs last month, above July’s figure of 80K
• Should the news come in above 101K, the USD could extend its upward movement from yesterday
Read more forex news on our forex blog
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