The EUR/USD finished below 1.3500 last week (it’s lowest price since November 22nd). The price was pushed down by the stronger U.S. Dollar and the uncertain EU economic outlook. The EU CPI showed a 0.7% increase instead of the expected 0.9%. This increased speculation over possible further easing by the ECB to prevent deflation. Today we should closely watch the U.S. ISM Manufacturing PMI. The previous 7 results always came out above expectations. This might help the pair to go further down below its support. The trend is slightly bearish.
The GBP/USD pair decreased to its 3-week low due to the stronger U.S. Dollar. The pair has remained bearish before the U.K. Manufacturing PMI data which will be announced at 9.30AM (GMT). The previous result came out worse-than-expected and the upcoming figure is predicted to show an even lower number. However, we should be careful of a possible price correction after such a fall. The trend is slightly bearish.
The USD/JPY has been moving sideways between 101.80 and 102.80 for the past few days. The Japanese Yen gained some profits as the economic outlook in the EU slightly decreased. The Yen as a safe-haven currency benefits from these occasions and the pair was pushed down despite the strengthening U.S. Dollar. Today we should pay attention to the U.S. ISM Manufacturing PMI at 3.00PM (GMT). Until this time we should be careful with placing a trade as the pair is ranging between its support and resistance.
February 3, 2014 – Forex News
Hot asset for today: GBP/USD
The EUR/USD finished below 1.3500 last week (it’s lowest price since November 22nd). The price was pushed down by the stronger U.S. Dollar and the uncertain EU economic outlook. The EU CPI showed a 0.7% increase instead of the expected 0.9%. This increased speculation over possible further easing by the ECB to prevent deflation. Today we should closely watch the U.S. ISM Manufacturing PMI. The previous 7 results always came out above expectations. This might help the pair to go further down below its support. The trend is slightly bearish.
The GBP/USD pair decreased to its 3-week low due to the stronger U.S. Dollar. The pair has remained bearish before the U.K. Manufacturing PMI data which will be announced at 9.30AM (GMT). The previous result came out worse-than-expected and the upcoming figure is predicted to show an even lower number. However, we should be careful of a possible price correction after such a fall. The trend is slightly bearish.
The USD/JPY has been moving sideways between 101.80 and 102.80 for the past few days. The Japanese Yen gained some profits as the economic outlook in the EU slightly decreased. The Yen as a safe-haven currency benefits from these occasions and the pair was pushed down despite the strengthening U.S. Dollar. Today we should pay attention to the U.S. ISM Manufacturing PMI at 3.00PM (GMT). Until this time we should be careful with placing a trade as the pair is ranging between its support and resistance.
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