The EUR/USD is climbing as the Euro gained on Greece’s decision to re structure their negotiation team used for bailout talks. Changes were made to help the progress of talks as Varoufakis became alienated and criticized. The euro was boosted as investors became hopeful that a deal is looming closer. U.S data supported the climb as it continued to come out weaker than expected.
Today, the pair continued to climb. U.S CB Consumer Confidence data was just released and came out below expectations; the figure has been predicted to be 102.5 but came out at 95.2. This pushed the pair even higher and it is currently trading around 1.0960. Attention will now turn to the Fed meeting which will conclude tomorrow with a statement at 6PM (GMT). The movement is slightly up. Support is found at 1.0790 and resistance at 1.1040.
The GBP/USD climbed after the Dollar weakened on the back of weaker than expected U.S Services PMI data which was released yesterday. During early trade, the pair dropped slightly as weaker than expected U.K GDP data came out but traders shrugged this off and instead focused on the Dollar which continued to weaken ahead of tomorrow’s FOMC statement. CB Consumer Confidence data supported the climb as it missed expectations at 95.2.
U.S data has been consistently weak recently and boosted speculation that the rate hike will not occur in June. This will be the main topic of the Feds meeting and traders expect tomorrow’s statement to be dovish. Volatility could now decline ahead of the release. The movement is slightly up. Support is found at 1.5080 and resistance at 1.5400.
April 28, 2015 – Forex News
Market Summary 28/4/15
Today’s Hot Asset: EUR/USD
EUR/USD
The EUR/USD is climbing as the Euro gained on Greece’s decision to re structure their negotiation team used for bailout talks. Changes were made to help the progress of talks as Varoufakis became alienated and criticized. The euro was boosted as investors became hopeful that a deal is looming closer. U.S data supported the climb as it continued to come out weaker than expected.
Today, the pair continued to climb. U.S CB Consumer Confidence data was just released and came out below expectations; the figure has been predicted to be 102.5 but came out at 95.2. This pushed the pair even higher and it is currently trading around 1.0960. Attention will now turn to the Fed meeting which will conclude tomorrow with a statement at 6PM (GMT). The movement is slightly up. Support is found at 1.0790 and resistance at 1.1040.
GBP/USD
The GBP/USD climbed after the Dollar weakened on the back of weaker than expected U.S Services PMI data which was released yesterday. During early trade, the pair dropped slightly as weaker than expected U.K GDP data came out but traders shrugged this off and instead focused on the Dollar which continued to weaken ahead of tomorrow’s FOMC statement. CB Consumer Confidence data supported the climb as it missed expectations at 95.2.
U.S data has been consistently weak recently and boosted speculation that the rate hike will not occur in June. This will be the main topic of the Feds meeting and traders expect tomorrow’s statement to be dovish. Volatility could now decline ahead of the release. The movement is slightly up. Support is found at 1.5080 and resistance at 1.5400.