The economic calendar is a bit light today with only Swiss PPI and euro zone industrial production. Swiss PPI will be under closer examination after last week’s contraction in Swiss CPI while euro zone data is likely to continue with the trend of poor data releases. Traders will be looking towards this week’s euro zone GDP data for additional economic weakness.

The USD was up against the majors to begin the week, reversing the greenback’s late Friday losses which occurred in a market with low liquidity. A bond auction by Italy drew decent demand. However, the financially pressured nation is paying its highest rate of interest since the inception of the EUR.

The US dollar saw a mixed trading day today, as positive news boosted risk taking in the marketplace which led to gains for currencies like the euro and British pound. News that the Bank of England will inject an additional 50 billion pounds to support the economic recovery, combined with word that Greece had finally reached an austerity deal, caused investors to shift their funds away from safe-havens. As a result, the EUR/USD …

Euro zone economic data out this morning shows the French and German economies performed in-line or better than consensus forecasts. However, traders need to remember that the data is not forward looking and is most likely already included in the value of the EUR. The was ZEW economic sentiment survey is forward looking and shows German investor confidence tumbled to a 3-year low, further highlighting fears of a euro zone recession.

The EUR/USD came off a two-month high today, following fresh concerns that Greece could soon default on its debt. The pair spiked as high as 1.3322 yesterday, after Greece reached a deal on austerity measures late in the European session. Hopes that the country would soon reach a debt swap deal with its creditors were dashed today, after euro-zone finance ministers demanded additional spending cuts from Greece before approving a second bailout. The …

The US dollar spent much of the day today range trading against most of its main currency rivals, including the euro, British pound and Swiss franc. Traders were hesitant to bet against the greenback ahead of possible news on a Greek debt swap deal. The one exception was against the Japanese yen. The USD/JPY took moderate losses throughout much of the day before stabilizing around 76.80 during the evening session. Turning to tomorrow, …

Platinum Reaches 5 month High I always go on about Gold and Silver but never give enough respect to Platinum. Currently rising to a 5 month high due to strikes in South Africa’s’ Rustenburg Mine, which happens to be the world’s largest Platinum mine. The strike is set to go on for another week, and we cannot rule out the prospect of other workers striking in the surrounding South African mines. Due to …

The US dollar extended its recent bullish run on the Japanese yen today, with the pair reaching as high as 76.85 before staging a slight reversal. In addition to a positive US jobs report from last week, the pair’s ascent was attributed to reports that the Bank of Japan (BOJ) secretly intervened in the marketplace late last year. While the greenback is still fairly close to the lows it hit against the yen …

The US dollar was able to extend the boost it received late last week during trading today, as negative euro-zone news fueled risk aversion and sent investors to the safe-haven greenback. Greece’s inability to reach a debt-swap agreement with its creditors sent the EUR/USD as low as 1.3026 before the pair staged a slight upward correction. Last week’s positive US jobs report helped the dollar maintain its gains against the JPY throughout the …

At forex216 we encourage our customers to be prepared for major market events. As such, you should know that the US Non-Farm Payrolls (NFP) is scheduled to be released on Friday at 13:30 GMT. The NFP is considered one of the most important economic indicators and typically results in major market volatility with the potential to effect currencies, commodities and CFD’s. Stay Informed! While many investors remain focused on the European debt crisis, …