The EUR/USD pair jumped up to 1.3685 after the ECB Monthly Report was released yesterday at 9.00AM (GMT). The Report pointed on 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 U.S. might have some negative impact on the data but it is also possible that the economy is slowing down as the Fed started its tapering of 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 data are expected to come in higher than previous 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 level. However, the pair lost its momentum and started to range lower around 1.6650 level. Today there are no economic data coming from U.K. market but we should look ion the EU GDP results which will be released at 10.00AM (GMT). The performance of EU is closely related to U.K. market so any disappointing data may hurt the British pound as well. We should keep an eye on the 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 reached its highest price since 2011. The support lying at 1.6600 and resistance at 1.6675.
The USD/JPY pair continued its fall and yesterday finished on the 101.60 level. The sentiment changed before the European session started and the pair already added about 30 pips. Today we should be more concentrate about the U.S. market results described above as well as the results from emerging markets. The poor performance of the emerging markets makes the Yen stronger. That’s why Yen gained against its major peers not just against U.S. Dollar. Today due to the fact that Japanese Index Nikkei 225 end up losing -1.53% might support more bullish sentiment. 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 on 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 U.S. might have some negative impact on the data but it is also possible that the economy is slowing down as the Fed started its tapering of 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 data are expected to come in higher than previous 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 level. However, the pair lost its momentum and started to range lower around 1.6650 level. Today there are no economic data coming from U.K. market but we should look ion the EU GDP results which will be released at 10.00AM (GMT). The performance of EU is closely related to U.K. market so any disappointing data may hurt the British pound as well. We should keep an eye on the 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 reached its highest price since 2011. The support lying at 1.6600 and resistance at 1.6675.
The USD/JPY pair continued its fall and yesterday finished on the 101.60 level. The sentiment changed before the European session started and the pair already added about 30 pips. Today we should be more concentrate about the U.S. market results described above as well as the results from emerging markets. The poor performance of the emerging markets makes the Yen stronger. That’s why Yen gained against its major peers not just against U.S. Dollar. Today due to the fact that Japanese Index Nikkei 225 end up losing -1.53% might support more bullish sentiment. The movement is now sideways. The support is lying at 101.45 and resistance at 102.70.
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