Trading Made Easy

Market Review 23.10.12

October 23rd, 2012 Posted in Daily Forex News Bookmark and Share

The US dollar remained within reach of a three-month high vs. the JPY during overnight trading, as expectations that the Bank of Japan will soon institute a new round of monetary easing weighed down on the yen. The EUR/USD fell close to 50 pips during the Asian session as concerns regarding when Spain will formally request a bailout package kept the common currency below its recent one-month high. Meanwhile, the price of crude oil continued to fall last night as concerns regarding a slowdown in the global economy generated supply side fears. The commodity, which is currently trading at the $88.30 level, has fallen close to $3 a barrel in the last 24 hours.

Main News for Today

Canadian Overnight Rate- 13:00 GMT
• The Canadian dollar has taken significant losses against the USD in recent days
• While the Bank of Canada is expected to keep interest rates at 1.00% today, any surprise moves could result in heavy volatility for the USD/CAD

Read more forex news on our forex blog

Start trading with Dan Eduard now:

hiii me tester

Tags: , , , , , ,