Market Review 29.5.12

Source: ForexYard


The euro reversed virtually all of its gains yesterday, as investors are now shifting their focus from Greece’s political problems to Spain’s debt issues. The EUR/USD dropped as low as 1.2509 last night, not far from its recent two-year low of 1.2495.

Today, investors will be watching for any announcements out of Spain which could shed some light on how serious the debt situation actually is.

Main News for Today

US CB Consumer Confidence-14:00 GMT
• Forecasted to come in at 69.8, above last month’s 69.2
• Any better than expected news could help the dollar against the JPY

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