On Tuesday, the EUR/USD continued to climb and reached a high of 1.1420 before bouncing downwards. The pair is being driven by the single currency which has appreciated on the back of the Greek elections. Despite the fact that there is no clear decision regarding how Greece will pay its debt, the possibility that they will exit the Euro-zone is very unlikely. Yesterday’s fundamental data from the U.S. showed mixed results. Orders placed with manufacturers for durable goods decreased by 0.8% in December instead of increasing by the expected 0.6%. However, Consumer Confidence came out higher than 100, its highest value since August 2007.
Today, sentiment will be driven by speculation ahead of the FOMC statement which will be released at 7.00PM (GMT). The movement is slightly bullish. Support is found at 1.1220 and resistance is at 1.1460.
Yesterday, the GBP/USD jumped following U.S. Core Durable Goods Orders data which showed worse-than-expected figures. The pair did not react to the U.K. GDP release which showed slightly worse economic growth than forecasted. The British economy expanded by 0.5%over the last quarter instead of by the expected 0.6%. Consequently, the pair recovered back to 1.5200 where it traded before the European Central bank’s decision to add more stimulus.
Today, we should pay attention to the U.S. FOMC statement which will be posted at 7.00PM (GMT). Most economists do not expect any hints regarding the interest rate hike. The most awaited topic is how the recent plunge in Oil prices will change monetary policy. The movement is slightly bullish. Support is found at 1.5055 and resistance at 1.5270.
January 28, 2015 – Forex News
Hot asset for today: EUR/USD
EUR/USD
On Tuesday, the EUR/USD continued to climb and reached a high of 1.1420 before bouncing downwards. The pair is being driven by the single currency which has appreciated on the back of the Greek elections. Despite the fact that there is no clear decision regarding how Greece will pay its debt, the possibility that they will exit the Euro-zone is very unlikely. Yesterday’s fundamental data from the U.S. showed mixed results. Orders placed with manufacturers for durable goods decreased by 0.8% in December instead of increasing by the expected 0.6%. However, Consumer Confidence came out higher than 100, its highest value since August 2007.
Today, sentiment will be driven by speculation ahead of the FOMC statement which will be released at 7.00PM (GMT). The movement is slightly bullish. Support is found at 1.1220 and resistance is at 1.1460.
GBP/USD
Yesterday, the GBP/USD jumped following U.S. Core Durable Goods Orders data which showed worse-than-expected figures. The pair did not react to the U.K. GDP release which showed slightly worse economic growth than forecasted. The British economy expanded by 0.5%over the last quarter instead of by the expected 0.6%. Consequently, the pair recovered back to 1.5200 where it traded before the European Central bank’s decision to add more stimulus.
Today, we should pay attention to the U.S. FOMC statement which will be posted at 7.00PM (GMT). Most economists do not expect any hints regarding the interest rate hike. The most awaited topic is how the recent plunge in Oil prices will change monetary policy. The movement is slightly bullish. Support is found at 1.5055 and resistance at 1.5270.
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