The EUR/USD pair jumped up to 1.3685 after the ECB Monthly Report was released yesterday at 9.00AM (GMT). The Report pointed to an upward impact on annual inflation. The pair remained high after the U.S. Retail Sales showed lower-than-expected figures and hurt the U.S. Dollar. The bad weather in the U.S. might have a negative impact on the data but it is also possible that the economy has slowed down since the Fed started to taper the monetary stimulus. Today we should watch the German GDP which will come out at 7.00AM (GMT). At 10.00AM (GMT) the EU Flash GDP will be released. Both pieces of data are expected to come out higher than last time and might pull the pair up. At 2.55PM (GMT) the Michigan Consumer Sentiment Index will be posted. The support is lying at 1.3560 and resistance at 1.3690.
Yesterday the GBP/USD pair strengthened and once the negative U.S. Retail Sales data came out the pair touched 1.6670. However, the pair lost its momentum and started to range lower around the 1.6650 level. Today there is no economic data coming from the U.K. market but we should watch the EU GDP result which will be released at 10.00AM (GMT). The performance of the EU is closely related to the U.K. market so any disappointing data may hurt the British pound as well. We should keep an eye on U.S. Industrial Production and Consumer Sentiment which will come out at 2.15PM and 2.55PM (GMT). The sentiment is still bullish but might change as the pair has reached its highest price since 2011. The support is lying at 1.6600 and resistance at 1.6675.
The USD/JPY pair continued to fall and yesterday finished at 101.60. The sentiment changed before the European session started and the pair has already added about 30 pips. Today we should concentrate on U.S. market results described above as well as the results from emerging markets. The poor performance in emerging markets makes the Yen stronger. That’s why the Yen gained against its major peers not just against the U.S. Dollar. Today we could see bullish sentiment as the Japanese Index, Nikkei 225, lost -1.53%. The movement is now sideways. The support is lying at 101.45 and resistance at 102.70.
February 14, 2014 – Forex News
Hot asset for today: EUR/USD
The EUR/USD pair jumped up to 1.3685 after the ECB Monthly Report was released yesterday at 9.00AM (GMT). The Report pointed to an upward impact on annual inflation. The pair remained high after the U.S. Retail Sales showed lower-than-expected figures and hurt the U.S. Dollar. The bad weather in the U.S. might have a negative impact on the data but it is also possible that the economy has slowed down since the Fed started to taper the monetary stimulus. Today we should watch the German GDP which will come out at 7.00AM (GMT). At 10.00AM (GMT) the EU Flash GDP will be released. Both pieces of data are expected to come out higher than last time and might pull the pair up. At 2.55PM (GMT) the Michigan Consumer Sentiment Index will be posted. The support is lying at 1.3560 and resistance at 1.3690.
Yesterday the GBP/USD pair strengthened and once the negative U.S. Retail Sales data came out the pair touched 1.6670. However, the pair lost its momentum and started to range lower around the 1.6650 level. Today there is no economic data coming from the U.K. market but we should watch the EU GDP result which will be released at 10.00AM (GMT). The performance of the EU is closely related to the U.K. market so any disappointing data may hurt the British pound as well. We should keep an eye on U.S. Industrial Production and Consumer Sentiment which will come out at 2.15PM and 2.55PM (GMT). The sentiment is still bullish but might change as the pair has reached its highest price since 2011. The support is lying at 1.6600 and resistance at 1.6675.
The USD/JPY pair continued to fall and yesterday finished at 101.60. The sentiment changed before the European session started and the pair has already added about 30 pips. Today we should concentrate on U.S. market results described above as well as the results from emerging markets. The poor performance in emerging markets makes the Yen stronger. That’s why the Yen gained against its major peers not just against the U.S. Dollar. Today we could see bullish sentiment as the Japanese Index, Nikkei 225, lost -1.53%. The movement is now sideways. The support is lying at 101.45 and resistance at 102.70.
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