On Tuesday the EUR/USD pair slightly decreased, however remained between 1.35 and 1.36 levels. The pair reacted on positive U.S. CPI data which growth more than expected (0.4% instead of 0.2%). Those data might influence FOMC meeting which has been taking place since yesterday and will finish today in the evening. At 6.00PM (GMT) investors will closely watch the FOMC statement followed by press conference. We do expect that Fed will continue in tapering of the monetary stimulus which are currently $45 billion/month by $10 billion. The question is whether will discuss when the interest rate will be increased. The pair is expected to be under pressure due to those releases. The movement is sideways. The support is lying at 1.3500 and resistance at 1.3600.
The GBP/USD pair has remained in its sideways movement during yesterday’s trading hours. The pair tend to decrease as the U.K. CPI data came unexpectedly low, however the price recovered before today’s MPC Asset purchase facility Votes and MPC Official bank rate votes. On the back of the previous statements from last week when Mark Carney hinted possible earlier interest rate increase, market expect more hawkish tone during this minutes. If the market is disappointed we might see the pair breaking through its support. On the other side, if the report is really hawkish the pair might increase above 1.7000. The movement is sideways. The support is lying at 1.6935 and resistance at 1.7040.
June 18, 2014 – Forex News
Hot asset for today: EUR/USD
On Tuesday the EUR/USD pair slightly decreased, however remained between 1.35 and 1.36 levels. The pair reacted on positive U.S. CPI data which growth more than expected (0.4% instead of 0.2%). Those data might influence FOMC meeting which has been taking place since yesterday and will finish today in the evening. At 6.00PM (GMT) investors will closely watch the FOMC statement followed by press conference. We do expect that Fed will continue in tapering of the monetary stimulus which are currently $45 billion/month by $10 billion. The question is whether will discuss when the interest rate will be increased. The pair is expected to be under pressure due to those releases. The movement is sideways. The support is lying at 1.3500 and resistance at 1.3600.
The GBP/USD pair has remained in its sideways movement during yesterday’s trading hours. The pair tend to decrease as the U.K. CPI data came unexpectedly low, however the price recovered before today’s MPC Asset purchase facility Votes and MPC Official bank rate votes. On the back of the previous statements from last week when Mark Carney hinted possible earlier interest rate increase, market expect more hawkish tone during this minutes. If the market is disappointed we might see the pair breaking through its support. On the other side, if the report is really hawkish the pair might increase above 1.7000. The movement is sideways. The support is lying at 1.6935 and resistance at 1.7040.
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