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Market Review 21.01.2013

January 21st, 2013 Posted in Daily Forex News Bookmark and Share

The USD/JPY hit a fresh 2 ½ year high when markets opened for the week last night, as investors eagerly await tomorrow’s Bank of Japan decision on additional steps to increase inflation. The pair traded as high as 90.24 before dropping to its current level of 89.60.

Most other major currency pairs and commodities saw relatively little movement during the Asian session. The EUR/USD gained some 15 pips, while gold prices increased by around $6 an ounce. Meanwhile, crude oil spent most of the night within reach of last week’s four-month high of $96.01 a barrel. The commodity is currently trading at $95.55.

Main News for Today

Today, with US markets closed for a bank holiday, no major economic indicators are scheduled to be released. Traders will want to continue monitoring developments in the euro-zone, as they still have the potential to affect investor risk appetite.

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