FOREXYARD: Forex News Blog

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Market Review 1.10.12 Posted: 01 Oct 2012 02:26 AM PDT The euro fell to a three-week low against the US dollar in overnight trading, as concerns about Spanish debt continued to draw investors to safe-haven assets. The common-currency fell as low as 1.2802 last night, before rebounding to its current level of 1.2867. After dropping close to $0.70 a barrel during the Asian session, crude oil was able to recoup most of its losses and currently stands at $91.86, virtually the same price as when markets opened for the week. Main News for Today US ISM Manufacturing PMI- 14:00 GMT • The PMI is forecasted to come in at 49.8, slightly higher than last month's figure • Any better than expected news will likely boost investor confidence in the US economic recovery and could help the dollar extend its recent bullish trend Fed Chairman Bernanke Speaks- 16:30 GMT • Investors will be watching today's speech for clues as to the current state of the US economic recovery • Any positive comments from the Fed Chairman could help the dollar during afternoon trading Read more forex news on our forex blog

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