On Friday, the EUR/USD climbed above 1.2480 following disappointing U.S. PPI data. The Producer Price Index decreased by 0.2% during November, a stronger decrease than the expected 0.1%. At the open of this week, the pair dropped slightly and is currently trading around 1.2420. This trend is likely to remain ahead of the upcoming FOMC meeting report.
Today, traders should watch the Empire State Manufacturing Index at 1.30PM (GMT). The index is expected to show growth. At 2.15PM (GMT) U.S. Industrial Production will be released. The movement is slightly bearish. Support is found at 1.2360 and resistance at 1.2500.
On Friday, the GBP/USD traded sideways. The price ranged between 1.5690 and 1.5740 with low volatility. This should change today as the pair has already dropped towards its support level at 1.5650. At 11.00AM (GMT) the U.K. Industrial Order Expectation will be released. More importantly, traders should keep an eye on the U.S. Industrial Production which will be published at 2.15PM (GMT).
Speculation could now begin before tomorrow’s Inflation data. The movement is slightly bearish. Support is found at 1.5650 and resistance at 1.5760.
December 15, 201 – Forex News
Hot asset for today: GBP/USD
EUR/USD
On Friday, the EUR/USD climbed above 1.2480 following disappointing U.S. PPI data. The Producer Price Index decreased by 0.2% during November, a stronger decrease than the expected 0.1%. At the open of this week, the pair dropped slightly and is currently trading around 1.2420. This trend is likely to remain ahead of the upcoming FOMC meeting report.
Today, traders should watch the Empire State Manufacturing Index at 1.30PM (GMT). The index is expected to show growth. At 2.15PM (GMT) U.S. Industrial Production will be released. The movement is slightly bearish. Support is found at 1.2360 and resistance at 1.2500.
GBP/USD
On Friday, the GBP/USD traded sideways. The price ranged between 1.5690 and 1.5740 with low volatility. This should change today as the pair has already dropped towards its support level at 1.5650. At 11.00AM (GMT) the U.K. Industrial Order Expectation will be released. More importantly, traders should keep an eye on the U.S. Industrial Production which will be published at 2.15PM (GMT).
Speculation could now begin before tomorrow’s Inflation data. The movement is slightly bearish. Support is found at 1.5650 and resistance at 1.5760.
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