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

The AUD took heavy losses vs. its main currency rivals during yesterday's trading session, falling a bigger than expected cut in Australian interest rates. The AUD/USD fell over 100 pips following the news, reaching as low as 1.0304 during early morning trading. The aussie also fell close to 100 pips against the JPY and 145 pips against the euro. Turning to today, traders will want to focus on the UK Construction PMI at 8:30 GMT, followed by the US ADP Non-Farm Employment Change at 12:15 GMT. Any positive news could help both the British pound and US dollar reverse their current bearish trends.

Summary

USD - US Manufacturing PMI Gives USD Boost

EUR - EUR Stays Range Bound During Slow Trading Day

Gold - Gold Reverses Gains Following Positive US News

Crude Oil - US Manufacturing Data Signals Increase in Oil Demand

aud | interest rate | cut | losses | trading session | Australian | us manufacturing | pmi | euro | slow | gold | reverses | crude oil

Positive Chinese and German economic indicators led to some bullish movement for the euro during mid-day trading yesterday. That being said, the gains were for the most part short-lived, as the common currency once again began moving downward by the evening session. Today, traders will want to pay attention to a batch of British and US indicators that are likely to generate market volatility.

Summary

USD - USD Moves Downward Following Increase in Risk Taking

EUR - German Data Gives EUR a Boost

CAD - BOC Leaves Interest Rates Unchanged; CAD Takes Slight Losses

Crude Oil - Positive Global Data Sends Crude Upward

losses | interest rate | boc | boost | german data | risk trading | increase | crude | positive data | oil | cad | eur | USD