Market Review 20.7.12

By FOREXYARD,  July 20, 2012, 04:20:04 AM EDT

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The euro took losses against most of its main currency rivals in overnight trading, as poor demand at a Spanish bond auction yesterday led to risk aversion in the marketplace. The EUR/USD fell close to 30 pips and is currently trading at 1.2255, while the EUR/AUD is currently trading just above a record low at 1.1775. Crude oil maintained its recent gains, as supply side fears due to the ongoing conflict with Iran boosted the commodity. Crude is currently trading at $92.45 a barrel.

Main News for Today

Eurogroup Meetings- All Day
• Euro-zone finance ministers will be meeting to discuss the terms of an aid package to assist the Spanish banking sector
• If the terms of the aid package are agreed to, investor fears regarding the health of Spanish banks may be calmed, which could result in gains for the euro before markets close for the week

Read more forex news on our forex blog




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

Referenced Stocks:



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