Source: ForexYard
The euro briefly extended its upward trend against the US dollar when markets opened last night, as risk taking continued to dominate market sentiment following last week’s announcement from the Fed of a new round of quantitative easing. The EUR/USD was able to reach as high as 1.3139 during the Asian session, before dropping back to its current level of 1.3120. Both the price of crude oil and gold were largely steady for most of the night, and currently remain near their multi-month highs.
Main News for Today
With no major news events scheduled for today, traders will want to watch out for any erratic movements among the main currency pairs and commodities, which can sometimes come as a result of low liquidity in the marketplace.
Forex Market Analysis provided by ForexYard.
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