Source: ForexYard
The USD/JPY remained within reach of its highest point since late April during the overnight session, as positive US employment data continued to boost confidence in the American economic recovery. That being said, uncertainty regarding the outcome of tomorrow’s presidential election limited any gains.
The euro extended its bearish run throughout overnight and early morning trading, as concerns regarding Greece’s ability to secure another round of bailout funds have weighed down on the common currency. The EUR/USD, currently trading at 1.2790, is at its lowest point in close to two-months.
After a brief upward correction during the Asian session, gold once again began falling and is now trading around the $1677 an ounce level, its lowest point since early September.
Main News for Today
UK Services PMI- 09:30 GMT
• The indicator is forecasted to come in at 52.0, slightly below last month’s figure of 52.2
• Any worse than expected news could push the GBP/USD, already close to a two-week low, lower during mid-day trading
US ISM Non-Manufacturing PMI- 15:00 GMT
• The indicator is forecasted to come in at 54.6, slightly below last month’s figure of 55.1
• Should the indicator come in above the expected level, the dollar could extend its recent bullish trend against the euro, JPY and CHF
Forex Market Analysis provided by ForexYard.
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