Source: ForexYard
The USD/JPY fell an additional 88 pips during the Asian session last night, as recent comments from the Japanese Economics Minister, who warned that an excessively bearish yen would be bad for Japanese imports, helped the JPY recover some of its recent losses.
The EUR/USD saw minor losses during the overnight session, following comments from a euro-zone official who warned that the common-currency was gaining too much, too quickly. The pair, which is currently trading at 1.3270, lost close to 40 pips since last night.
Main News for Today
US Core CPI-13:30 GMT
• Forecasted to come in at 0.2%, slightly higher than last month’s 0.1%
• Better than expected news today could lead to dollar gains during afternoon trading
US Crude Oil Inventories- 15:30 GMT
• Forecasted to come in at 2.0M, significantly higher than last week’s 1.3M
• A higher than expected figure today could lead to a drop in crude oil prices during afternoon trading
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.
