Friday, November 9, 2012

FOREXYARD: Forex News Blog

FOREXYARD: Forex News Blog

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Market Review 7.11.12

Posted: 07 Nov 2012 01:49 AM PST

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The euro saw significant gains during overnight trading, as investors shifted their funds to riskier assets after it became clear the Barack Obama would be reelected as President of the United States.

Other higher yielding assets, including gold, saw gains as well. The precious metal advanced close to $17 an ounce during Asian trading, eventually reaching as high as $1726.62, before dropping back to its current level of $1722.70.

After falling more than 50 pips during overnight trading, the USD/JPY has since recouped most of its losses and is currently trading at 80.25.

Main News for Today

Greek Parliamentary Vote
• The Greek parliament is set to vote on a new package of austerity measures needed to unlock a new round of bailout funds
• The austerity measures are widely unpopular, and there is heavy pressure on elected officials to vote against them
• Should the austerity measure fail to be enacted, risk aversion could result in the euro taking heavy losses

Read more forex news on our forex blog
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1 comment:

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