The euro gave up its recent gains against the US dollar and Japanese yen yesterday, following a combination of negative euro-zone news which led to an increase in risk aversion. Worse than expected indicators out of both Germany and France, along with political uncertainty following the first round of elections in France was largely to blame for the euro's bearish trend. Today, euro traders will want to pay attention to debt auctions out of Italy and the Netherlands. Positive results from the auctions could help the common currency. Furthermore, the US CB Consumer Confidence and New Home Sales figures are set to generate market volatility when they are released at 14:00 GMT.

Summary

USD - Risk Aversion Leads to Bullish Dollar

EUR - Political, Economic Uncertainties Weigh Down on Euro

JPY - Yen Sees Gains across the Board

Crude Oil - Crude Oil Falls Over $2 amid Risk Aversion

euro | reverse | gains | us dollar | Japanese | yen | negative | euro zone | news | increase | risk aversion | worse | expected indicators | germany | france | political uncertainty | elections | bearish trend | debt auctions | Italy | Netherlands

After hitting a three month high against the U.S. dollar in trading yesterday, the euro took some slight losses last night, falling some 30 pips against the greenback. The overall trend for EUR/USD is still up, especially ahead of the U.S. Advance GDP figure, which is forecasted to show a slight decrease from the previous report.

Summary

USD - Dollar Manages Slight Gains, But Remains Low Overall

EUR - EUR Records Gains on USD, Losses Against JPY and CHF

JPY - Safe Haven Yen Climbs Vs. Rivals

OIL - Crude Oil Jumps in Overnight Trading

market | trend | fundamental | technical | analysis | eur | USD | gdp | forecast | yen | oil