Source: ForexYard
After making slight gains against the US dollar when markets opened for the week, the euro once again began falling during the early morning session, and is now approaching a new two-month low. Analysts attributed the euro’s bearish movement to risk aversion due to concerns regarding the debt crises in Spain and Greece.
After gaining more than $2 a barrel on Friday, the price of crude oil remained relatively steady throughout the overnight session. Speculations about an increase in American demand for oil due to positive US economic indicators were responsible for oil’s recent gains.
Main News for Today
Eurogroup Meetings- All Day
• Euro-zone ministers will be discussing the next round of Greek bailout funds when they meet today
• Any positive developments with regard to Greece receiving additional bailout funds could result in risk taking, which may help the euro recover some of its recent losses
Traders will want to note that US markets will be closed today due to the Veterans Day holiday.
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