EUR/USD Bearish Momentum Rises Amid Dollar Gains
The EUR/USD pair is experiencing bearish momentum as risk aversion favors dollar gains. The US markets are closed due to Hurricane Sandy, but despite thin volume, the downward trend continues.
Risk aversion is driving dollar gains across the board, with local share markets in red and US futures down. This has increased the bearish potential of the EUR/USD pair.
The main risk event for today's session will be Spain, where PM Rajoy will provide information about bad banks in the country at 17:00 pm local time.