FOREXYARD: Forex News Blog

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Market Review 31.5.12 Posted: 31 May 2012 02:10 AM PDT The euro fell as low as 1.2357 against the US dollar in overnight trading, as fears that Spain will soon require a bailout package continue to drive the common-currency lower. Crude oil continued its downward trend as well, reaching $87.25 a barrel last night. Main News for Today US ADP Non-Farm Employment Change-12:15 GMT • Considered an accurate predictor of tomorrow's Non-Farm Payrolls Claim • Analysts are forecasting the figure to come in at 145K, slightly above last month's • Any better than expected news could help the USD move up against JPY US Prelim GDP-12:30 GMT • Analysts are predicting the figure to come in at 1.9%, which would represent a decrease from last month • If the figure comes in as predicted, investors may continue shifting their funds to the safe-haven JPY as a result Irish Stability Treaty Vote- All day • Ireland is voting on whether to ratify a new EU fiscal treaty • Analysts expect that Ireland will vote in favor of the treaty, but if it does not, the euro could see heavy losses as a result

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