FOREXYARD: Forex News Blog

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Market Review 7.8.12 Posted: 07 Aug 2012 01:40 AM PDT The EUR/USD remained within reach of yesterday's one month high during the overnight session, as investor expectations that the ECB will soon move to lower borrowing costs in Spain and Italy helped boost risk appetite. The pair is currently trading around the 1.2400 level. The AUD/USD hit a four-month high at 1.0602 last night, after the Reserve Bank of Australia left interest rates unchanged at 3.50%. The pair is currently trading at 1.0590. Main News for Today Canadian Building Permits- 12:30 GMT • The USD/CAD has fallen close to 90 pips since last Thursday • If today's building permits comes in above the forecasted -3.5%, the CAD may be able to extend its recent gains Fed Chairman Bernanke Speaks- 18:30 GMT • The Fed Chairman refrained from mentioning any new steps to strengthen the US economic recovery during his speech yesterday • If he does bring up a new round of stimulus today, the dollar could see broad losses during evening trading Read more forex news on our forex blog

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