Wednesday, May 9, 2012

FOREXYARD: Forex News Blog

FOREXYARD: Forex News Blog

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Market Review 8.5.12

Posted: 08 May 2012 01:12 AM PDT

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The EUR/USD and USD/JPY once again turned bearish during overnight trading as uncertainty regarding Greece's new parliament led to additional risk aversion in the marketplace. Commodities and precious metals were also down during the Asian session. Crude has fallen to the $97 a barrel level, while gold dropped over $6 an ounce.

Main News for Today

EUR German Industrial Production- 10:00 GMT
• Forecasted to come in at 0.8%, well above last month's -1.3%
• If true, may lead to moderate risk taking in the marketplace which could help euro

EUR ECB President Draghi Speaks- 12:30 GMT
• Any mention of French and Greek elections and their potential impact on the euro-zone recovery could lead to volatility for euro

Read more forex news on our forex blog
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1 comment:

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