The EUR/USD has rallied upwards and reached a high of 1.1080. Gains are being seen as the Dollar weakens ahead of the FOMC statement which is expected to be dovish. In addition, U.S GDP data was just released and was significantly worse than expected; the quarterly figure increased by just 0.2% when analysts had predicted to see a 1% climb.
The statement will be released at 6PM (GMT) and as no press conference will follow high volatility is expected at this time. If the report is not as dovish as expected, the pay may drop quickly. The movement is slightly up. Support is found at 1.09250 and resistance at 1.1100.
The GBP/USD rallied upwards and is currently trading around 1.5430. The pair is also benefitting from the weaker Dollar which is falling ahead of the FOMC statement. The Federal Reserve undertook a meeting over the past few days and will be discussing changing monetary policy with respect to recent data. The Dollar’s fall is so strong that investors have managed to shrug off weaker than expected U.K GDP data and uncertainty ahead of elections next week.
The statement will be released at 6PM (GMT). The movement is slightly up. Support is found at 1.5260 and resistance at 1.5450.
April 29, 2015 – Forex News
Today’s Hot Asset: EUR/USD
EUR/USD
The EUR/USD has rallied upwards and reached a high of 1.1080. Gains are being seen as the Dollar weakens ahead of the FOMC statement which is expected to be dovish. In addition, U.S GDP data was just released and was significantly worse than expected; the quarterly figure increased by just 0.2% when analysts had predicted to see a 1% climb.
The statement will be released at 6PM (GMT) and as no press conference will follow high volatility is expected at this time. If the report is not as dovish as expected, the pay may drop quickly. The movement is slightly up. Support is found at 1.09250 and resistance at 1.1100.
GBP/USD
The GBP/USD rallied upwards and is currently trading around 1.5430. The pair is also benefitting from the weaker Dollar which is falling ahead of the FOMC statement. The Federal Reserve undertook a meeting over the past few days and will be discussing changing monetary policy with respect to recent data. The Dollar’s fall is so strong that investors have managed to shrug off weaker than expected U.K GDP data and uncertainty ahead of elections next week.
The statement will be released at 6PM (GMT). The movement is slightly up. Support is found at 1.5260 and resistance at 1.5450.
Related Posts: