On Tuesday, the EUR/USD pair moved sideways within 1.2860 and 1.2950. The pair first tend to test the support, however with U.S. release of JOLT Job Openings the pair climbed up. The data showed slightly lower number than expected (4.67M instead of 4.72) which took some of the previous gains of U.S. Dollar. Today the sideway movement might continue due to lack of important economic events. We can see that at 6.45AM (GMT) the French Industrial Production will be released, however, this data usually does not affect the Euro so much. The movement is sideways. The support is found at 1.2840 and resistance at 1.2920.
The GBP/USD has been moving sideways during yestreday’s trading hours despite some important releases. U.K. Manufacturing production data met expectation and therefore did not bring higher volatility. Also Mark Carney could not pick up the demand for pound even though he hinted that at spring 2015 the Bank of England is prepared to increase the interest rates. If market does not react on such an information, we should expect further down pressure. Today at 1.45PM (GMT) the BOE Governor Mark Carney and several MPC members will testify on inflation and the economic outlook before Parliament’s Treasury Committee. The trend is slightly bearish. The support is found at 1.6000 and resistance at 1.6185.
September 10, Forex News
Hot asset for today: GBP/USD
On Tuesday, the EUR/USD pair moved sideways within 1.2860 and 1.2950. The pair first tend to test the support, however with U.S. release of JOLT Job Openings the pair climbed up. The data showed slightly lower number than expected (4.67M instead of 4.72) which took some of the previous gains of U.S. Dollar. Today the sideway movement might continue due to lack of important economic events. We can see that at 6.45AM (GMT) the French Industrial Production will be released, however, this data usually does not affect the Euro so much. The movement is sideways. The support is found at 1.2840 and resistance at 1.2920.
The GBP/USD has been moving sideways during yestreday’s trading hours despite some important releases. U.K. Manufacturing production data met expectation and therefore did not bring higher volatility. Also Mark Carney could not pick up the demand for pound even though he hinted that at spring 2015 the Bank of England is prepared to increase the interest rates. If market does not react on such an information, we should expect further down pressure. Today at 1.45PM (GMT) the BOE Governor Mark Carney and several MPC members will testify on inflation and the economic outlook before Parliament’s Treasury Committee. The trend is slightly bearish. The support is found at 1.6000 and resistance at 1.6185.
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