Source: ForexYard
The euro saw gains in overnight trading following positive comments from an official at the European Central Bank. That being said, most analysts said that any bullish movement by the common-currency is likely to be temporary, as rising Spanish bond yields continue to weigh down on the euro-zone economic recovery. Gold was able to extend yesterday’s bullish trend, and is still trading well above the psychologically significant $1600 an ounce level.
Main News for Today
US Core Durable Goods Orders- 12:30 GMT
• Forecasted to come in at 0.1%, well below last month’s 0.7%
• If true, the dollar could extend its recent losses against the JPY
US Unemployment Claims- 12:30 GMT
• Last week’s unemployment claims came in significantly higher than expected, resulting in dollar losses
• If today’s news comes in above the expected 381K, the dollar could see losses against its main rivals
US Pending Home Sales- 14:00 GMT
• Forecasted to come in at 0.6% , well below last month’s 5.9%
• If true, investors may take the news as a sign that the US economic recovery is slowing down, and could result in additional dollar losses in afternoon trading
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