A downgrade of Ireland's sovereign debt rating late Tuesday further roiled foreign exchange markets already agitated by dismal U.S. housing sales. The Standard & Poor's Ratings Services downgraded Ireland's credit rating late Tuesday on concerns about the cost of bailing out the country's ailing banks.

Summary

USD - U.S Dollar Extends Losses

EUR - Euro Hits New Lows vs. the Dollar and the Yen

JPY - Yen Rises Broadly on Global Risk Aversion

Crude Oil - Oil Rebounds with U.S. Durable Goods Data Ahead

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Due to renewed concerns regarding the Euro-Zone's debt crisis and due to the beginning of earning season in the U.S, the Dollar slightly strengthened against the Euro yesterday. However, what will determine the direction of the Dollar today is likely to be the economic data which is expected from the U.S. and the Euro-Zone, especially the U.S. Trade Balance report. Will the Dollar see another day of rising trend?

Summary

USD - Dollar Strengthens As Second-Quarter Earnings Season Begins

EUR - Euro Tumbles on Concerns Stress Tests Won't Ease Investors

JPY - Yen Rises as Risk Aversion Increases

OIL - Crude Oil Drops To $75.50 a Barrel

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After a receiving a slight boost following comments from Fed chairman Bernanke yesterday, the Euro largely reversed its gains in overnight trading versus the U.S. Dollar and Yen. Investors appear to be waiting on news from a meeting today at the European Central Bank as to whether more help will be provided to debt ridden Euro-zone countries.

Summary

USD - Dollar Improves as Investors Return to Risk Aversion

EUR - EUR Reverses Gains, Awaits News From ECB Meeting

JPY - Safe Haven Yen Continues to Rally Against Its Rivals

Crude Oil - Crude Corrects Itself After Major Gains Yesterday

Forex | daily market trend | analysis | news | fundamental | technical | fed | chairman | Bernanke | dollar | yen | European | central bank | euro zone | countries | debt

With the Euro already recording fresh 14-month lows against the U.S. Dollar on Thursday, the single currency may see a significantly larger price drop following the U.S. Non-Farm Payrolls report. Set to be released at 12:30 GMT, the report is forecasted to show an increase in the American employment figure. This will likely weigh heavily on the Euro.

Summary

USD - Non-Farm Payrolls Could Lead to Big Gains for the Greenback

EUR - Euro Continues to Fall With No End in Sight

JPY - Yen Makes Big Gains as Safe Haven Currency

OIL - Spot Crude Plummets on Market Turmoil

Forex | daily market trend | analysis | news | fundamental | technical | debt | spain | partugal | bailout | package | Greece | eur

Fears that the sovereign debt issues will spread to other weak economies such as Spain and Portugal as well as concerns that the bailout package will not be enough to return Greece to solvency caused the EUR to fall to its lowest level in 14 months versus the USD.

Summary

USD - USD Gains on Negative Market Sentiment

EUR - EUR Drops over 1% versus the USD

JPY - Yen Rallies versus Counterparts

OIL - Crude Price Drop blow $80 a Barrel

Forex | daily market trend | analysis | news | fundamental | technical | debt | spain | partugal | bailout | package | Greece | eur

The EUR/USD cross edged above the $1.35 level after the German ZEW Institute's April economic sentiment index came in well above previously forecasted levels. That being said, the Euro-Zone currency fell later in the session amid persistent worries about debt-stricken Greece.

Summary

USD - Dollar Tumbles as Risk Taking Resumes

EUR - Euro pressured vs. Dollar on Greece Debt Worries

JPY - Yen Gains vs. Euro on Greek Concerns

Crude Oil - Crude Extends Gains Past $84 a Barrel

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The Dollar rallied broadly, while the EUR fell to 10-month lows on Wednesday, as a ratings firm downgraded Portugal, adding to worries over debt sustainability and growth in some of euro zone's smaller countries. That supported some safe-haven flows into the U.S. dollar.

Summary

USD - Dollar's Rally Continues

EUR - EUR Falls to a 10-Month Low Versus the Dollar

JPY - Yen Drops on All Fronts

Crude Oil - Oil Drops as Inventories Rise

Forex | daily market trend | analysis | news | fundamental | technical | eur | USD | fall | European | fiscal | concern | Portugal | ratings firm | debt | euro zone | smaller countries

Yesterday ended with traders returning to the EUR and GBP while selling safe-haven currencies such as the USD and the JPY. An agreement regarding a future safety net for Greece's debt problems helped lift the EUR. Later, Standard & Poor's affirmed its rating for Greece which gave the euro another boost. The GBP experienced its biggest daily gain in several months after better than expected data was published.

Summary

USD - Economy Slowly Improving, Rates Held Steady

EUR - EUR Closes Higher vs. USD as Greece Concerns Ease

JPY - Yen Slides as Risk Appetite Grows

Crude Oil - Crude Oil Prices Rise supported by a Strong EUR

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