For past two days, the EUR/USD pair is traded in a different way when we saw low volatility during the day but significant spike up around 12.00 GMT. That might point on negative expectation from the U.S. market which disappears once the economic data comes out. Today we might see again the same pattern as at 12.30 GMT the PPI index will be released. The correct expectation is to see 0.1% increase which is slightly lower than last time (0.4%). However, due to the fact that French and Italian market will remain close for holidays, the traded volume should be lower. The movement has remained sideways. The support is found at 1.3300 and resistance at 1.3445.
On Thursday, the price of WTI Crude Oil slipped down to almost $95/barrel. The price is moving down as the speculation about increasing stockpiles supplies. Once the price breaks below $95/barrel the market sentiment will probably move south and the price might drop to $93/barrel. We should keep an eye on the U.S. data today which will be released at 12.30GMT.The sentiment is sideways. The support is found at 95.00 and resistance at 98.70.
August 15, 2014 – Daily Market News
For past two days, the EUR/USD pair is traded in a different way when we saw low volatility during the day but significant spike up around 12.00 GMT. That might point on negative expectation from the U.S. market which disappears once the economic data comes out. Today we might see again the same pattern as at 12.30 GMT the PPI index will be released. The correct expectation is to see 0.1% increase which is slightly lower than last time (0.4%). However, due to the fact that French and Italian market will remain close for holidays, the traded volume should be lower. The movement has remained sideways. The support is found at 1.3300 and resistance at 1.3445.
On Thursday, the price of WTI Crude Oil slipped down to almost $95/barrel. The price is moving down as the speculation about increasing stockpiles supplies. Once the price breaks below $95/barrel the market sentiment will probably move south and the price might drop to $93/barrel. We should keep an eye on the U.S. data today which will be released at 12.30GMT.The sentiment is sideways. The support is found at 95.00 and resistance at 98.70.
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