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Slumdog Forex - Daily Forex Analysis

EURO Anticipating Good News - September 12, 2012


With traders anticipating good news for EUR/USD from today's major events, the shared currency had an easy time finding interested buyers. This pair found itself 99 pips higher at 1.2858, while EUR/JPY crept up 12 pips to finish at 99.96.

Yesterday's moves had little to do with yesterday's economic releases, as we all know the euro zone didn't release anything noteworthy. Instead, the euro's rally can mostly be attributed to market expectations. Traders are feeling good about today's lineup of events and they're hoping we'll get positive results.

Today, the euro zone is set to hold three major events - European Commission President Jose Manuel Barroso's the banking union proposal, the Dutch elections, and the German Constitutional court ruling at 15:00 (GMT+7). Today's developments could have a drastic impact on the euro zone economy over a long period of time, so the markets are keen on seeing positive outcomes.

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