Source: ForexYard
The marketplace saw moderate risk taking during Asian trading last night, after euro-zone finance ministers agreed to terms for providing Greece with a new round of bailout funds.
The price of crude oil advanced close to $0.40 a barrel, eventually reaching as high as $88.10, before dropping to its current level of $87.95.
The EUR/USD gained around 20 pips to trade as high as 1.2993, before giving up virtually all of its gains during early morning trading.
Gold prices saw very little movement in overnight trading, and remain within reach of the psychologically significant $1750 an ounce level.
Main News for Today
US Core Durable Goods Orders- 13:30 GMT
• Forecasted to come in at -0.6%, significantly below last month’s 2.0%
• Any disappointing data could result in the USD/JPY taking losses during afternoon trading
US CB Consumer Confidence- 15:00 GMT
• Forecasted to come in slightly higher than last month’s figure
• Better than expected news could result in risk taking, which may lead to gains for crude oil during the second half of the day
Read more forex news on our forex blog
Forex Market Analysis provided by ForexYard.
© 2006 by FxYard Ltd
Disclaimer: Trading Foreign Exchange carries a high level of risk and may not be suitable for all investors. There is a possibility that you could sustain a loss of all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with Foreign Exchange trading.