The EUR/USD pair was under pressure and declined during yesterday’s trading hours to 1.3640 where slightly reversed. The U.S. ADP Non-farm Employment Change report showed very strong data and increased bets over positive Non-farm payrolls data. As we wrote in previous reports, the Non-farm payrolls release is taking place today (instead of usual Friday) due to holidays in U.S. (Independence Day). The speech of Janet Yellen was not reflected by the markets, probably as investors already waiting for the NFP data. Today we should also keep an eye on the Euro Minimum Bid rate release at 11.45AM (GMT). We do not expect any changes after last month cut, however at 12.30PM (GMT) Mario Draghi will held a press conference which might increase the volatility of Euro. Due to the fact that the NFP and this press conference are in the same time, it will be very interesting to see the movement on the pair. The trend is slightly bearish. The support is lying at 1.3650 and resistance at 1.3700.
The GBP/USD continued its rally and yesterday increase its record high since 2008 by 10 pips and touched 1.7175. The pair was driven by great U.K. Construction PMI which showed better-than-expected results. Today at 8.30AM (GMT) the U.K. Services PMI is coming out and will be closely watched. More volatility we should expect at 12.30PM (GMT) connected with the Non-farm payrolls data. We should keep an eye on the resistance at 1.7200 which might be strong one and hard to break. The movement is sideways. The support is lying at 1.7115 and resistance at 1.7200.
July 3, 2014 – Forex News
Hot asset for today: GBP/USD
The EUR/USD pair was under pressure and declined during yesterday’s trading hours to 1.3640 where slightly reversed. The U.S. ADP Non-farm Employment Change report showed very strong data and increased bets over positive Non-farm payrolls data. As we wrote in previous reports, the Non-farm payrolls release is taking place today (instead of usual Friday) due to holidays in U.S. (Independence Day). The speech of Janet Yellen was not reflected by the markets, probably as investors already waiting for the NFP data. Today we should also keep an eye on the Euro Minimum Bid rate release at 11.45AM (GMT). We do not expect any changes after last month cut, however at 12.30PM (GMT) Mario Draghi will held a press conference which might increase the volatility of Euro. Due to the fact that the NFP and this press conference are in the same time, it will be very interesting to see the movement on the pair. The trend is slightly bearish. The support is lying at 1.3650 and resistance at 1.3700.
The GBP/USD continued its rally and yesterday increase its record high since 2008 by 10 pips and touched 1.7175. The pair was driven by great U.K. Construction PMI which showed better-than-expected results. Today at 8.30AM (GMT) the U.K. Services PMI is coming out and will be closely watched. More volatility we should expect at 12.30PM (GMT) connected with the Non-farm payrolls data. We should keep an eye on the resistance at 1.7200 which might be strong one and hard to break. The movement is sideways. The support is lying at 1.7115 and resistance at 1.7200.
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