Yesterday the EUR/USD dropped sharply as the Dollar corrected from previous losses. Better than expected U.S JOLTS Job Openings data was also released and showed that 5.133 million jobs became available in the month of February. The pair has since traded sideways between 1.0880 and 1.0800 as traders became apprehensive ahead of today’s data.
The FOMC Meeting Minutes will be released at 6PM (GMT). The minutes denote the meeting which took place between March 17 and 18, in which the Fed decided to remove the word ‘patient’ from their pledge. The report will be closely watched for clues regarding the interest rate hide and should spark high volatility. The movement is sideways. Support is found at 1.0800 and resistance at 1.0950.
Yesterday the GBP/USD declined from 1.4920 to 1.4800 as the Dollar rallied on speculation that weak data will be temporary and as stronger than expected JOLTS Job Openings data was released from the U.S. Today, however, the sentiment changed and the price rallied up to 1.4950.
In the longer term, the GBP is being moved by anticipation ahead of elections which will occur in May. However, for today, investors seem to be predicting that the FOMC Meeting Minutes report will be dovish and are being cautious with Dollar positions. The report will be released at 6PM (GMT) and will be the main event of the day. The movement is sideways. Support is found at 1.4800 and resistance line at 1.4980.
April 8, 2015 – Forex News
Today’s Hot Asset: EUR/USD
EUR/USD
Yesterday the EUR/USD dropped sharply as the Dollar corrected from previous losses. Better than expected U.S JOLTS Job Openings data was also released and showed that 5.133 million jobs became available in the month of February. The pair has since traded sideways between 1.0880 and 1.0800 as traders became apprehensive ahead of today’s data.
The FOMC Meeting Minutes will be released at 6PM (GMT). The minutes denote the meeting which took place between March 17 and 18, in which the Fed decided to remove the word ‘patient’ from their pledge. The report will be closely watched for clues regarding the interest rate hide and should spark high volatility. The movement is sideways. Support is found at 1.0800 and resistance at 1.0950.
GBP/USD
Yesterday the GBP/USD declined from 1.4920 to 1.4800 as the Dollar rallied on speculation that weak data will be temporary and as stronger than expected JOLTS Job Openings data was released from the U.S. Today, however, the sentiment changed and the price rallied up to 1.4950.
In the longer term, the GBP is being moved by anticipation ahead of elections which will occur in May. However, for today, investors seem to be predicting that the FOMC Meeting Minutes report will be dovish and are being cautious with Dollar positions. The report will be released at 6PM (GMT) and will be the main event of the day. The movement is sideways. Support is found at 1.4800 and resistance line at 1.4980.
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