Source: ForexYard
The euro reversed some of last week’s gains against the US dollar in overnight trading, but remained close to the four-month high it hit following a worse than expected US Non-Farm Payrolls figure. After reaching a one-month low against the Japanese yen at 78.01 on Friday, the USD was able to stage a slight upward during Asian trading and is currently trading at 78.25. Crude oil and gold saw little movement last night, as hopes that the Fed will soon initiate a new round of quantitative easing kept both near their recent highs.
Main News for Today
With no major economic news scheduled to be released today, traders will want to continue monitoring announcements out of the US which may hint at whether the Fed is planning on initiating a new round of quantitative easing when they meet later this week.
Forex Market Analysis provided by ForexYard.
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