The EUR/USD pair slightly decreased on Tuesday and broke its support at 1.3645 but as the U.S. data came out the pair reversed up and erased the previous movement down. The U.S. Core Durable Goods Orders unexpectedly fell in December and decreased by 1.6% instead of expected 0.7% increase. However, the CB Consumer Confidence Index came out later on above expectation so the negative mood on the U.S. market disappeared. Today will be the main event of this week. At 7.00PM (GMT) the FOMC statement will be released. In that report is widely expected to see another cut in U.S. quantitative easing program. During the day we will have several EU data coming out with moderate expected volatility. It will be the GfK German Consumer Climate and M3 Money Supply. The sentiment is slightly bearish. The support is lying at 1.3620 and resistance at 1.3685.
The USD/JPY pair strengthened and broke its resistance before the U.S. data and climbed 103.20 level but reversed. The pair then reacted on late night meeting of Turkish central bank members and broke its second resistance. Yen as safe-haven currency weakened due to the steps taken by Turkey to protect lira. The pair move up to 103.40 where now bouncing. The pair might continue its uptrend as the expectation about the FOMC statement is bullish for greenback. The sentiment on the market is slightly bullish. The support is lying at 102.45 and resistance at 103.55.
The GBP/USD pair slightly decreased after the U.K. GDP data was released. Even though the expectation met the actual figure, market probably speculated stronger data. The pair then climbed back as the U.S. Core Durable Goods Orders came out a lot under expectation but reversed down on the better CB Consumer Confidence. The pair is currently ranging around 1.6580 level and we might see some move as Mark Carney will speak at 12.15PM (GMT) at the Scottish Council for Development and Industry’s member luncheon. The main event will be the FOMC statement report at 7.00PM (GMT). The movement is sideways with support at 1.6510 and resistance at 1.6620.
January 29, 2014 – Forex News
Hot Asset For Today: GBP/USD
The EUR/USD pair slightly decreased on Tuesday and broke its support at 1.3645 but as the U.S. data came out the pair reversed up and erased the previous movement down. The U.S. Core Durable Goods Orders unexpectedly fell in December and decreased by 1.6% instead of expected 0.7% increase. However, the CB Consumer Confidence Index came out later on above expectation so the negative mood on the U.S. market disappeared. Today will be the main event of this week. At 7.00PM (GMT) the FOMC statement will be released. In that report is widely expected to see another cut in U.S. quantitative easing program. During the day we will have several EU data coming out with moderate expected volatility. It will be the GfK German Consumer Climate and M3 Money Supply. The sentiment is slightly bearish. The support is lying at 1.3620 and resistance at 1.3685.
The USD/JPY pair strengthened and broke its resistance before the U.S. data and climbed 103.20 level but reversed. The pair then reacted on late night meeting of Turkish central bank members and broke its second resistance. Yen as safe-haven currency weakened due to the steps taken by Turkey to protect lira. The pair move up to 103.40 where now bouncing. The pair might continue its uptrend as the expectation about the FOMC statement is bullish for greenback. The sentiment on the market is slightly bullish. The support is lying at 102.45 and resistance at 103.55.
The GBP/USD pair slightly decreased after the U.K. GDP data was released. Even though the expectation met the actual figure, market probably speculated stronger data. The pair then climbed back as the U.S. Core Durable Goods Orders came out a lot under expectation but reversed down on the better CB Consumer Confidence. The pair is currently ranging around 1.6580 level and we might see some move as Mark Carney will speak at 12.15PM (GMT) at the Scottish Council for Development and Industry’s member luncheon. The main event will be the FOMC statement report at 7.00PM (GMT). The movement is sideways with support at 1.6510 and resistance at 1.6620.
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