FOREXYARD: Forex News Blog

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Market Review 3.10.12 Posted: 03 Oct 2012 03:01 AM PDT After the EUR/USD took moderate losses in overnight trading, eventually reaching as low as 1.2876, the pair was able to bounce back during the early morning session and is currently at 1.2925. Crude oil extended yesterday's downward trend last night, as investor fears about the global economic recovery continue to generate fears that global demand could continue moving down. The commodity has fallen well over $1 a barrel since yesterday afternoon and is currently trading around the $91.50 level. The price of gold has remained relatively unchanged for the last 24 hours, and is currently trading around the $1776 level. Main News for Today US ADP Non-Farm Employment Change- 12:15 GDP • The indicator is considered a valid predictor of Friday's all-important Non-Farm Payrolls report • Today's news is forecasted to come in at 145K, well below last month's figure of 201K • Any worse than expected news could weigh down on the USD/JPY US ISM Non-Manufacturing PMI- 14:00 GMT • Forecasted to come in slightly below last month's figure • Should the indicator come in above the expected 53.2, risk taking among investors could boost the euro US Crude Oil Inventories- 14:30 GMT • Forecasted to come in at 1.6M, significantly higher than last week's -2.4M • If the news comes in above expectations, it may be taken as a sign that demand in the US is weakening which could result in the price of oil dropping Read more forex news on our forex blog

Market Review 02.10.12 Posted: 02 Oct 2012 02:04 AM PDT The euro saw moderate gains against the US dollar in overnight trading, as a positive US manufacturing report from yesterday continued to boost risk appetite. That being said, the common currency remains close to a recent three-week low, and analysts are warning that bearish movement may continue occurring until Spain makes a formal request for a bailout package. The Australian dollar fell to a one-month low against the greenback last night after RBA unexpectedly decided to cut Australian interest rates. Main News for Today UK Construction PMI- 08:30 GMT • The British pound has seen significant bearish movement against the US dollar in recent days • Any better than expected data today could help sterling recover some of its recent losses Read more forex news on our forex blog

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