A batch of negative euro-zone economic indicators, including a worse than expected manufacturing PMI, drove the EUR/USD to its lowest level in over a week during trading yesterday. The news also resulted in the euro dropping over 140 pips against the yen during the European session. Turning to today, European news is forecasted to generate significant market volatility. Traders will want to pay attention to the results of a Spanish debt auction, as well as to the ECB Press Conference at 12:30 GMT. Should any of the news signal further troubles regarding the euro-zone economic recovery, the common currency could drop further before markets close for the week.

Summary

USD - ADP Employment Figure Leads to Dollar Losses

EUR - ECB News Set to Impact Euro Today

AUD - Risk Aversion Leads to Aussie Losses

Crude Oil - US Inventories Figure Causes Oil to Drop

drop | oil | us inventories | loss | aussie | risk aversion | euro | impact | news | ecb | dollar | losses | employment figure | adp | crude oil | aud | eur | USD

A worse than expected Advance GDP figure sent the dollar tumbling to multi-week lows against several of its main currency rivals on Friday. The EUR/USD closed out the week at 1.3249, up close to 100 pips for the day. Against the JPY, the greenback was down 115 pips to finish the day at 80.27. Turning to this week, the US Non-Farm Payrolls figure should be closely watched when it is released on Friday. In addition, Tuesday's US ISM Manufacturing PMI and Wednesday's ADP Non-Farm Employment Change may lead to significant activity in the marketplace. The dollar may extend its losses should any of the indicators come in below expectations.

Summary

USD - Dollar Volatility Expected Ahead of Non-Farm Report

EUR - Euro Remains Low Despite Smooth Italian Debt Auction

JPY - BOJ Monetary Easing Does Little to Damage Yen Strength

Crude Oil - Crude Oil Sees Gains amid Bearish US Dollar

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The euro remained under pressure against the US dollar throughout yesterday's trading session, as investors remained cautious regarding Greece's financial situation. The EUR/USD spent much of the day range trading around the 1.3225 level after failing to break above key resistance lines the day before. Today, traders will want to pay attention to the weekly US Unemployment Claims figure. A better than expected result may result in the euro falling further against the greenback.

Summary

USD - US Unemployment Claims May Generate Volatility Today

GBP - Sterling Tumbles Following MPC Meeting Minutes

JPY - Yen Drops to 7-Month Low vs. USD

Crude Oil - Crude Comes Off Recent Highs amid Decreased Demand

euro | dollar | pressure | Greece | concerns | unemployment claims | volatility | gbp | mpc meeting | jpy | oil

The US dollar strengthened considerably yesterday moving past stops during the New York trading session and dragging commodity prices lower after gold and crude oil reached new highs.

Summary

USD - Dollar Strengthening on all Fronts

EUR - Peripheral Nations Worry Markets

JPY - USD/JPY Fails at Key Resistance Level

Crude Oil - Crude Oil Sets 2-Year High

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The US dollar traded near a five-month low versus the EUR before a U.S. report today that may show existing home sales are close to a 10-year low, adding to signs the world's largest economy is struggling to recover.

Summary

USD - US Dollar Extends Losses

EUR - EUR/USD Hits 5-Month High

JPY - Yen Makes Big Gains on Dollar

OIL - Crude Oil Rises Above $75 a barrel

forex daily market | forex trend | forex analysis | forex news | daily forex analysis | technical news | technical analysis | USD | dollar | decline | eur | us | report | sales | low