Source: ForexYard
The euro took modest losses against the US dollar in overnight trading, as concerns regarding Greece’s ability to control its debt levels led to risk aversion in the marketplace. The EUR/USD fell around 30 pips last night before staging an upward correction during early morning trading. The pair is currently trading just above the 1.2500 level. A hurricane in the Gulf of Mexico caused the price of oil to spike in overnight trading. The commodity gained more than $1 to reach as high as $97.69, before correcting itself. Currently oil is trading at $96.95.
Main News for Today
German Ifo Business Climate- 08:00 GMT
• Analysts are forecasting the indicator to come in at 102.7, below last month’s result of 103.3
• If today’s news comes in below the forecasted level, the euro could take losses against the USD and JPY as a result
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