Source: ForexYard
The euro saw mild gains against the US dollar in overnight trading, as investors remain hesitant to go overly bearish against the common currency ahead of possible ECB action next month to lower borrowing costs in Spain and Italy. Gold advanced more than $4 an ounce last night, reaching as high as $1624.91 before staging a slight downward correction. The precious metal is currently trading just above the $1623 level.
Main News for Today
With no major news releases scheduled to be released today, traders will want to continue monitoring developments in the euro-zone with regards to possible action by the ECB to lower Spanish and Italian borrowing costs. Any positive developments could result in significant euro gains.
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