By Ashley Smith – After traders caught up with markets that were closed for Easter, new economic data is set to be released today that should influence the price of spot crude oil and the dollar.
GBP – Services PMI – 8:30 GMT
– A survey of business conditions and future outlook – a leading indicator of economic health
– Expected to show little change. A worse than expected result will likely intensify the Pounds decline.
USD – Fed Chairman Bernanke Speaks – 17:15 GMT
– With no assuring remarks from yesterday FOMC meeting minutes regarding monetary policy tightening in the near future, investors will be awaiting any signs for Bernanke regarding interest rate increases and the state of the U.S economic recovery.
USD – Crude Oil Inventories – 14:30
– With Oil prices heading towards the $90 a barrel level, consumer demand remains an important variable. Any decline in inventories will likely help push Oil prices towards that level.
Forex Market Analysis provided by Forex Yard.
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