Source: ForexYard
After making slight gains during Asian trading against the US dollar, the euro once again turned bearish during the early morning session today as concerns regarding Spanish debt continue to weigh down on the common currency. The EUR/USD advanced more than 20 pips to reach as high as 1.2989 before falling to its current level of 1.2940. Gold also advanced slightly last night, gaining more than $5 to trade as high as $1779.45 an ounce, before dropping back to its current level of $1774.
Main News for Today
UK Manufacturing Production- 08:30 GMT
• The manufacturing indicator is forecasted to come in at -0.6%, well below last month’s 3.2%
• Any worse than expected news could result in the British pound extending its current bearish trend against the US dollar and Japanese yen
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