Source: ForexYard
Speculations that the US Federal Reserve will expand its monetary easing program after they finish meeting later this week resulted in slight dollar losses during the overnight session. At the same time, worse than expected Chinese news led to risk aversion in the marketplace which limited the dollar’s losses.
Concerns regarding the euro-zone economic recovery, combined with the Chinese news, led to moderate losses in gold and silver prices last night. Meanwhile, crude oil gained some $0.30 a barrel during early morning trading.
Main News for Today
German ZEW Economic Sentiment- 10:00 GMT
• Forecasted to come in at -11.4, which if true, would be the seventh month straight of negative economic sentiment in the EU’s biggest economy
• Worse than expected news could result in euro losses during mid-day trading
US Trade Balance- 13:30 GMT
• Forecasted to come in at -42.7B, below last month’s -41.5B
• Worse than expected news could result in dollar losses during afternoon trading
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