Wednesday, October 17, 2012

FOREXYARD: Forex News Blog

FOREXYARD: Forex News Blog

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Market Review 10.10.12

Posted: 10 Oct 2012 02:23 AM PDT

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The EUR/USD fell to a 10-day low during overnight trading, as investor concerns regarding Spanish and Greek debt led to an increase in risk aversion. After hitting the 1.2834 level, the pair was able to stage a slight upward correction to reach its current level of 1.2865. Commodities and precious metals also took minor losses during Asian trading. The price of gold fell close to $5 an ounce to trade as low as $1760 before bouncing back to its current level of $1763. Meanwhile, crude oil lost about $0.55 a barrel to reach $91.68 before reversing to its current level of $92.20.

Main News for Today

US Beige Book- 18:00 GMT
• The Beige Book is an analysis the FOMC uses to make a decision regarding interest rates
• Should the Beige Book signal any improvements in the US economy, investors may shift their funds to riskier assets, which could help the euro recover some of its recent losses

Read more forex news on our forex blog
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1 comment:

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