On Friday, the EUR/USD pair dropped again almost 200 pips and touched the new lowest price in 11-years. The price went as low as 1.1460 as the Euro was further pushed down on the back of the Swiss National Bank surprising announcement. We can also see the ongoing speculation before this week’s European Central Bank meeting. The probability that Mario Draghi will introduce additional monetary stimulus during his press conference is very high and therefore we should be able to see more pressure on the pair. However today should be quiet, as U.S. market has remained closed due to holiday of Martin Luther King. The movement is sideways. The support is found at 1.1450 and resistance is at 1.1650.
Today’s Main events:
All day – U.S. market closed
8.15 GMT CHF: PPI – Change in the price of goods and raw materials purchased by manufacturers
11.00 GMT EUR: German Buba Monthly Report
21.00 GMT NZD: NZIER Business Confidence – Level of a diffusion index based on surveyed manufacturers, builders, wholesalers, retailers, and service providers.
January 19, 2015 – Daily Market News
On Friday, the EUR/USD pair dropped again almost 200 pips and touched the new lowest price in 11-years. The price went as low as 1.1460 as the Euro was further pushed down on the back of the Swiss National Bank surprising announcement. We can also see the ongoing speculation before this week’s European Central Bank meeting. The probability that Mario Draghi will introduce additional monetary stimulus during his press conference is very high and therefore we should be able to see more pressure on the pair. However today should be quiet, as U.S. market has remained closed due to holiday of Martin Luther King. The movement is sideways. The support is found at 1.1450 and resistance is at 1.1650.
Today’s Main events:
All day – U.S. market closed
8.15 GMT CHF: PPI – Change in the price of goods and raw materials purchased by manufacturers
11.00 GMT EUR: German Buba Monthly Report
21.00 GMT NZD: NZIER Business Confidence – Level of a diffusion index based on surveyed manufacturers, builders, wholesalers, retailers, and service providers.
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