FOREXYARD: Forex News Blog

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Market Review 6.6.12 Posted: 06 Jun 2012 01:08 AM PDT Riskier currencies gained against their safe-haven rivals during overnight trading, following a better than expected Australian GDP figure. The EUR/USD reached as high as 1.2515 while the AUD/USD gained almost 100 pips to trade as high as 0.9861. Crude oil also benefited from risk taking in the marketplace and is now trading just below the $85 a barrel level. Main News for Today EUR Minimum Bid Rate- 11:45 GMT • Although most analysts are predicting that the ECB will keep interest rates at their current 1%, some are forecasting that a rate cut could take place today • If interest rates are cut, the euro, along with other riskier currencies, could see losses during afternoon trading EUR ECB Press Conference-12:30 GMT • Investors will be paying close attention to the press conference for clues as to any plans the ECB may have to stimulate growth in the euro-zone • If no new initiatives are announced, the euro could see some bearish movement later in the day Read more forex news on our forex blog

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