Yesterday the Yen experienced one of its most bullish days in recent weeks. The JPY made significant gains against many of its most traded currency pairs, such as the GBP, and EUR.

Daily Forex Tips

The price of Crude Oil fell 1.4% or $1.00 to $71.20 yesterday, extending heavy losses from the previous session as rising stockpiles of U.S. crude outweighed positive economic data. Today, the crude oil is set to be in the spotlight again with important publications data from U.S. and Europe.

10:00 GMT: British CBI Realized Sales

- This indicator reflects the level of a diffusion index based on surveyed wholesalers, and retailers
- The Market is likely to go volatile during and following this release today.
- This indicator might cause extreme volatility in the market in major currency pairs.
- Better-than-expected results may help the GBP recover some of yesterday’s losses against the USD and EUR.

12:30 GMT: U.S Unemployment Claims

- The number of individuals who filed for unemployment insurance for the first time during the past week.
- This release is expected to be better than their previous figures.
- Meaning the USD could continue to show further bullishness today.
- Traders should focus their attention on this release, as this is expected to be the highlight of the day for forex traders.