Source: ForexYard
The euro sank to a three-month low against the US dollar during overnight trading as investors continue to digest the results of yesterday’s elections in France and Greece. Crude oil extended its bearish trend as well, dropping over $2 a barrel during Asian trading.
Main News for Today
EUR Sentix Investor Confidence- 08:30 GMT
o Level of investor confidence is forecasted to have dropped since last month
o A final result of below -15.3 may lead to additional losses for the euro
EUR German Factory Orders- 10:00 GMT
o Factory orders in Germany forecasted to have gone up since last month
o A final result of over 0.5% could give the euro a temporary boost
CAD Building Permits- 12:30 GMT
o USD saw major gains against CAD due to risk aversion in the marketplace
o With today’s news forecasted to come in well below last month’s, the loonie’s bearish trend may contine
o A final result of below -0.5% could lead to additional losses for CAD
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.
