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

Today's non-farm payrolls report is expected to show improvement in US employment data as many economists have upped their forecasts following the strong ADP report. However, traders may want to remain skeptical as US unemployment is still at uncomfortably high levels.

Summary

USD - Staying Skeptical of Todays Non-Farm Payrolls Report

EUR - Draghi Suggests Greater EU Integration

CHF - Negative Interest Rate Rumor Fuels CHF Weakness

Wheat - Wheat Prices Underperform

December | analysis | forex market | negative | interest rate | chf | eur | USD | adp | unemployment data | us | report | payrolls | non-farm