Source: ForexYard
The 17-nation euro appreciated against the majority of its currency counterparts during Tuesday’s trading as trio Spain, Italy and Holland managed to sell bonds. The fact that these euro nations sold bonds is extremely positive as no sooner then yesterday, investors believed the debt crisis in the Euro-zone was worsening.
The shared currency rose 0.4 percent against the U.S Dollar during the New York trading session as while as showing a 0.4 percent rise against the Japanese Yen.
The euro saw further gains versus the greenback after figures indicated that Home Sales fell at a slower rate for the year ended February. The Home Sales report included 20 cities from the United States.
There are still a number of key financial reports expected for release on Wednesday and Thursday which could affect the movements of the Euro, the U.S Dollar and other major currencies. The reports include speech from the ECB President Mario Draghi,GBP Gross Domestic Product, US Interest Rate Decision,FOMC Statement as well as New Zealand Interest Rate Decision.
Forex Market Analysis provided by ForexYard.
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