FOREXYARD: Forex News Blog

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Market Review 25.10.12 Posted: 25 Oct 2012 02:24 AM PDT The US dollar hit a four-month high against the JPY during the overnight session, as investors remained convinced that the Bank of Japan will soon announce a new round of monetary easing to help the Japanese export industry. The euro was able to recover some of its recent losses against the dollar last night, as expectations that the Greece will be given more time to implement economic reforms boosted risk appetite. The EUR/USD, which is once again trading above the psychologically significant 1.3000 level, gained more than 50 pips during Asian trading. After falling by close to $2 a barrel yesterday due to a significantly higher than expected US inventories report, crude oil was able to gain close to $0.70 during the Asian session and is currently trading at $86.50. Main News for Today US Core Durable Goods Orders- 12:30 GMT • Core durable goods orders are forecasted to come in at 0.8%, significantly higher than last month's -1.6% • Any better than expected news could boost the USD/JPY during mid-day trading US Unemployment Claims- 12:30 GMT • Figure is expected to come in at 371K, which would represent an improvement over last week's 388K • Should the figure come in below 371K, risk appetite may increase which could boost higher yielding commodities like gold and crude oil US Pending Home Sales- 14:00 GMT • Pending home sales are expected to have increased to 2.3% last month • If true, it would represent a substantial improvement in the US housing market, which could boost the USD in afternoon trading Read more forex news on our forex blog

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