EUR Retail Sales on Tap
July 3rd, 2009 Posted in Daily Forex News
There is likely to be less volatility than usual in the market today with almost no market, as there is the U.S bank holiday. However, Europe appears to be releasing events that may indeed create a remarkable wave of volatility in the market.
9:00 GMT: EUR- Retail Sales
• This indicator reflects the change in the total value of inflation-adjusted sales at the retail level.
• The release of this indicator typically creates volatility in the market.
• Better-than-expected results may help the EUR recover some of yesterday’s losses against some of its crosses, such as the USD.
• Traders may find good opportunities to enter the market following this vital announcement.
Tips on Crude Oil
• Oil fell toward $66 a barrel yesterday, as high jobless numbers across the U.S. and Europe revived concerns about the global economic outlook and its impact on energy demand.
• The latest signals signify that the economy of the world’s biggest energy consumer is still struggling with a deep recession.
• Oil is likely to continue range trading between $65 and $70 a barrel for today.
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Tags: Crude Oil, daily tips, EUR, Forex, forex blog, Japan, Retail Sales, USD
