FOREXYARD: Forex News Blog

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Market Review 31.7.12 Posted: 31 Jul 2012 03:13 AM PDT Increased investor confidence in the global economic recovery, following comments from the ECB President in which he said he would do whatever was necessary to lower Spanish and Italian borrowing costs, led to risk taking during the overnight session. As a result, the Australian dollar hit a four-month high vs. its US counterpart, while the price of gold remained well above $1620 an ounce. Main News for Today US CB Consumer Confidence-14:00 GMT • The Consumer Confidence is forecasted to come in at 61.5, which if true, would signal the fourth consecutive month the figure has declined • If today's news comes in below 61.5, both the dollar and crude oil could turn bearish during afternoon trading Read more forex news on our forex blog

Market Review 30.7.12 Posted: 30 Jul 2012 01:38 AM PDT The euro took losses during the overnight session, but managed to remain well above its recent lows against the US dollar and Japanese yen. Expectations that the European Central Bank will act to lower Spanish and Italian borrowing costs on Thursday have helped boost the common-currency in recent days. Crude oil and gold remain elevated as well, as risk taking has returned to the marketplace. Main News for Today Italian 10-Year Bond Auction • The main reason behind the euro's bearish trend last month was rising borrowing costs in Spain and Italy • If today's news signals that demand for Italian bonds is low or that borrowing costs have gone up, the euro could reverse some of its recent gains during afternoon trading Read more forex news on our forex blog

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