Source: ForexYard
A positive German retail sales figure during early morning trading led to gains for higher-yielding currencies and commodities, including the euro, British pound, gold and crude oil.
The dollar was able to recoup some of its losses against the Japanese yen in overnight trading, although analysts were quick to warn that any gains could be limited, as the full impact Hurricane Sandy has had on the US economy is still not known.
Today, traders will want to note that after being closed for the last two days, US markets will be reopening today. As officials begin assessing the full impact Hurricane Sandy has had on the US economy, major fluctuations in stocks and currencies can be expected.
Main News for Today
US Crude Oil Inventories- 14:30 GMT
• The price of crude oil received a boost during early morning trading today following positive euro-zone news
• Should today’s inventory figure come in below expectations, which would signal increased demand in the US, crude could extend its bullish trend
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