Source: ForexYard
The euro saw a minor downward correction against the US dollar during overnight trading, but remained within reach of its recent 11-month high of 1.3477. The euro’s recent bullish run has been attributed to the strengthening European banking sector. Currently the EUR/USD is trading at 1.3445.
The USD/JPY also took slight losses during Asian trading, but remained close to a recent 2 ½ year high. Crude oil and gold prices have seen relatively little movement since markets opened for the week.
Main News for Today
US Core Durable Goods Orders- 13:30 GMT
• Forecasted to come in at 0.8%, well below last month’s 1.6%
• Worse than expected data could lead to dollar losses during mid-day trading
US Pending Home Sales- 15:00 GMT
• Forecasted to come in at 0.5%, well below last month’s 1.7%
• Worse than expected data could lead to dollar losses during afternoon trading
Read more forex news on our forex blog
Forex Market Analysis provided by ForexYard.
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