FOREXYARD: Forex News Blog

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Market Review 19.9.12 Posted: 19 Sep 2012 01:24 AM PDT The Japanese yen fell to a one-month low against the US dollar after the Bank of Japan initiated a new round of monetary easing during the overnight session. The USD/JPY is currently trading at 79.13, up from 78.56 at the beginning of Asian trading. The euro saw gains last night against the USD and JPY, but has failed to break past the four-month high it hit earlier this week. After falling more than $1 a barrel during afternoon trading yesterday, crude oil saw a modest upward correction last night but remains well below the four-month high hit last week. Main News for Today US Building Permits- 12:30 GMT • Forecasted to come in at 0.9M, slightly below last month's 0.81M • Any worse than expected news could result in the euro extending its recent gains against the greenback US Existing Home Sales- 14:00 GMT • Forecasted to come in at 4.57M, which would be an increase over last month's 4.47M • Any better than expected news could help the dollar extend last night's gains against the JPY US Crude Oil Inventories- 14:30 GMT • Forecasted to come in at -0.2M, well below last week's 2.0M • If the inventories figure comes in as forecasted, investors may take the news as a sign that demand for oil in the US has gone up, which could result in the price of crude turning bullish Read more forex news on our forex blog

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