The EUR/USD has traded above 1.2400 since Friday, despite U.S. Industrial Production data beating expectations. Traders are hesitant ahead of the FOMC meeting and even though most analysts don’t foresee a big change, they do expect to receive more information regarding the interest rate hike.
Today, at 8.30AM (GMT) the German Manufacturing PMI will be released and traders should look to see whether the industry is expanding or contracting. The previous result showed a slight contraction and if figures worsen, the Euro should drop. At 10.00AM (GMT) watch the German ZEW Economic Sentiment. The movement is sideways. Support is found at 1.2360 and resistance at 1.2500.
On Monday, the GBP/USD dropped to a 1-week low and tested its second support level at 1.5600. During the Asian session, however, the pair rebounded up to its current level of 1.5660. Several important events will occur today which traders should pay attention to. At 7.00AM (GMT) the Bank of England will release its Financial Stability report and if it shows signs of instability, the British pound should react negatively. At 9.00AM (GMT), Mark Carney the Governor of the BoE will be speaking and at 9.30AM (GMT) U.K. CPI data will be released. It is expected that inflation slightly decreased over the past month.
The movement is sideways. Support is found at 1.5600 and resistance at 1.5760.
December 16, 2014 – Forex News
Hot asset for today: GBP/USD
EUR/USD
The EUR/USD has traded above 1.2400 since Friday, despite U.S. Industrial Production data beating expectations. Traders are hesitant ahead of the FOMC meeting and even though most analysts don’t foresee a big change, they do expect to receive more information regarding the interest rate hike.
Today, at 8.30AM (GMT) the German Manufacturing PMI will be released and traders should look to see whether the industry is expanding or contracting. The previous result showed a slight contraction and if figures worsen, the Euro should drop. At 10.00AM (GMT) watch the German ZEW Economic Sentiment. The movement is sideways. Support is found at 1.2360 and resistance at 1.2500.
GBP/USD
On Monday, the GBP/USD dropped to a 1-week low and tested its second support level at 1.5600. During the Asian session, however, the pair rebounded up to its current level of 1.5660. Several important events will occur today which traders should pay attention to. At 7.00AM (GMT) the Bank of England will release its Financial Stability report and if it shows signs of instability, the British pound should react negatively. At 9.00AM (GMT), Mark Carney the Governor of the BoE will be speaking and at 9.30AM (GMT) U.K. CPI data will be released. It is expected that inflation slightly decreased over the past month.
The movement is sideways. Support is found at 1.5600 and resistance at 1.5760.
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