Daily Forex Overview - U.S Revised UoM Consumer Sentiment on Tap

Trading will end this week as a slue of economic data due to be released today will provide ample opportunities for traders to enter the market on higher than normal volatility. U.S. Federal Reserve Chairman Ben Bernanke�s speech at 18:00 GMT later today will add to this expected volatility.

13:55 GMT: Revised UoM Consumer Sentiment
� This indicator reflects the level of a composite index based on surveyed consumers.
� This report has produced optimistic results for the previous 3 reports and is forecast to continue the positive results.
� If optimism in the U.S rises, we will likely see a stronger rebound in the USD.
� If optimism falls, we could see the EUR�s recent rally gain momentum.

Tips on Crude Oil
� Oil prices rose sharply to above $70 a barrel yesterday.
� Crude Oil rose Due to a rally on Wall Street, fueled by optimism that the economic recession was easing.
� If the USD continues to weaken, $75 a barrel seems like a very realistic target for next week.