Source: ForexYard
Markets were relatively calm in overnight trading, as investors remain hesitant to open positions ahead of an Italian bond auction tomorrow and elections in Greece on Sunday. The EUR/USD is currently trading around the 1.2505 level, roughly the same as the beginning of the Asian session. Crude oil was able to largely hang onto its gains from yesterday, and is currently trading around $83.10 a barrel.
Main News for Today
US Core Retail Sales-12:30 GMT
• The figure is forecasted to come in at 0.1%, which is the same as last month
• If the news disappoints, the dollar may take losses against both the EUR and JPY
US PPI- 12:30 GMT
• The PPI is a measure of consumer inflation
• Today’s figure is expected to come in at -0.6%, significantly below last month’s
• If true, the dollar could take losses in afternoon trading
US Retail Sales- 12:30 GMT
• Forecasted to come in at -0.1%, which is well below last month’s
• If true, the dollar could take losses in 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.
