After seeing significant gains yesterday due to worse than expected economic data out of the euro-zone and China, the US dollar staged a downward correction during overnight trading. As a result, higher yielding assets, including gold and silver, were able to recoup some of their recent losses. Crude oil traded steadily at the $93 a barrel level throughout the Asian session. The commodity has gained more than $2 since hitting a six-week low yesterday morning.
Main News for Today
UK Public Sector Net Borrowing- 08:30 GMT
• The British pound has seen significant upward movement against the US dollar in recent weeks
• If today’s news comes in better than the forecasted 13.2B, the GBP/USD could see additional bullish movement before markets close for the week
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