Source: ForexYard
The euro took losses against most of its main currency rivals in overnight trading, as poor demand at a Spanish bond auction yesterday led to risk aversion in the marketplace. The EUR/USD fell close to 30 pips and is currently trading at 1.2255, while the EUR/AUD is currently trading just above a record low at 1.1775. Crude oil maintained its recent gains, as supply side fears due to the ongoing conflict with Iran boosted the commodity. Crude is currently trading at $92.45 a barrel.
Main News for Today
Eurogroup Meetings- All Day
• Euro-zone finance ministers will be meeting to discuss the terms of an aid package to assist the Spanish banking sector
• If the terms of the aid package are agreed to, investor fears regarding the health of Spanish banks may be calmed, which could result in gains for the euro before markets close for the week
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.
