Source: ForexYard
Following slight losses during the overnight session, the USD/JPY bounced back to a one-month high at 78.93 during early morning today. The dollar saw gains across the board yesterday, after the release of better than expected US Retail Sales and Core Retail Sales reports. Crude oil and gold saw little movement during Asian trading, while the euro saw very modest gains against the dollar after dropping close to 60 pips yesterday. The EUR/USD is currently trading at 1.2332, up 15 pips from the beginning of last night.
Main News for Today
UK Claimant Count Change- 08:30 GMT
• The Claimant Count Change measures the change in the number of people claiming unemployment benefits in the UK
• Today’s news is forecasted to come in at 6.2K, slightly higher than last month’s figure
• If true, sterling could extend its recent downward trend against the dollar
US Core CPI- 12:30 GMT
• The CPI measures the change in price of goods and services
• Today’s news is forecasted to come in at 0.2%, which is the same as last month’s figure
• Any better than expected news could help the USD extend yesterday’s gains
Read more forex news on our forex blog
Forex Market Analysis provided by ForexYard.
© 2006 by FxYard Ltd
Disclaimer: Trading Foreign Exchange carries a high level of risk and may not be suitable for all investors. There is a possibility that you could sustain a loss of all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with Foreign Exchange trading.