On Monday, the EUR/USD traded sideways between 1.1160 and 1.1240. Despite the fact that the pair has been under pressure from hawkish remarks from FOMC Member, Lockhart, the price did not decline as EU inflation data showed a slight improvement. In addition, U.S ISM Manufacturing PMI data was released and showed the lowest figure seen in 1 year, disappointing traders.
Today at 7.00AM (GMT) German Retail Sales data will be released and at 1.15AM (GMT), Janet Yellen will be delivering opening remarks at the 2014 College Fed Challenge National Finals in Washington DC. Any hints of a possible interest rate increase will significantly affect the dollar. The movement is sideways. Support is found at 1.1160 and resistance is at 1.1270.
Yesterday, the GBP/USD continued to trade with bearish sentiment and declined to 1.5350. The pair decreased despite stronger U.K. Manufacturing PMI data which showed its highest figure since August 2014. During the Asian session we saw a slight correction and the pair added about 40 pips. The turn in sentiment came from a surprise decision from the Australian RBA to keep interest rates unchanged which hurt the U.S. Dollar.
Today, investors should keep an eye on the U.K. Construction PMI which is coming out at 9.30AM (GMT). At 10.00AM (GMT), BoE Governor, Mark Carney, will testify before the Treasury Select Committee. The trend is sideways. Support is found at 1.5330 and resistance at 1.5480.
March 3, 2015 – Forex News
Hot asset for today: GBP/USD
EUR/USD
On Monday, the EUR/USD traded sideways between 1.1160 and 1.1240. Despite the fact that the pair has been under pressure from hawkish remarks from FOMC Member, Lockhart, the price did not decline as EU inflation data showed a slight improvement. In addition, U.S ISM Manufacturing PMI data was released and showed the lowest figure seen in 1 year, disappointing traders.
Today at 7.00AM (GMT) German Retail Sales data will be released and at 1.15AM (GMT), Janet Yellen will be delivering opening remarks at the 2014 College Fed Challenge National Finals in Washington DC. Any hints of a possible interest rate increase will significantly affect the dollar. The movement is sideways. Support is found at 1.1160 and resistance is at 1.1270.
GBP/USD
Yesterday, the GBP/USD continued to trade with bearish sentiment and declined to 1.5350. The pair decreased despite stronger U.K. Manufacturing PMI data which showed its highest figure since August 2014. During the Asian session we saw a slight correction and the pair added about 40 pips. The turn in sentiment came from a surprise decision from the Australian RBA to keep interest rates unchanged which hurt the U.S. Dollar.
Today, investors should keep an eye on the U.K. Construction PMI which is coming out at 9.30AM (GMT). At 10.00AM (GMT), BoE Governor, Mark Carney, will testify before the Treasury Select Committee. The trend is sideways. Support is found at 1.5330 and resistance at 1.5480.
Related Posts: