FOREXYARD: Forex News Blog

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Market Review 20.9.12 Posted: 20 Sep 2012 02:29 AM PDT Investors reverted to safe-haven assets in overnight trading following a disappointing Chinese manufacturing indicator which led to risk aversion in the marketplace. The EUR/USD fell more than 80 pips to reach its current level of 1.2966, while the AUD/USD fell close to 100 pips to trade as low as 1.0365. A significantly higher than predicted US Crude Oil Inventories figure yesterday resulted in speculations among investors that demand in America has gone down, and resulted in the price of crude tumbling. Crude is down well over $3 a barrel since yesterday afternoon and is currently trading at the $91.50 level. Main News for Today Spanish 10-Year Bond Auction • Spain is widely expected to seek a bailout from the ECB in the near future • If today's bond auction shows decreased demand for Spanish debt, it may be a sign that the bailout request will come sooner rather than later, and could result in the EUR taking further losses US Unemployment Claims-12:30 • Unemployment claims are forecasted to come in at 374K, slightly below last week's figure • If today's news comes in below 374K, the dollar could extend its gains against the EUR and AUD US Philly Fed Manufacturing Index-14:00 • The manufacturing indicator has come in below the expected level for the last five months • If today's news once again disappoints, the dollar could take losses against the yen Read more forex news on our forex blog

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