The EUR/USD pair strongly reacted on the yesterday’s testimony of Janet Yellen before U.S. lawmakers. The pair first erased the previous movement up which was made by speculation. Traders awaited more dovish report and due to worse-than-expected labor data maybe even change in a withdrawing of the monetary stimulus. However, as we can see in the report, she supported further tapering but connected with strong data. At 3.00PM (GMT) she started to talk and her speech was more dovish than the actual testimony which made the pair reverse and move back up but finished low at 1.3635 level. Today at 10.00AM the EU Industrial Production will be released and might cause some moderate movement. At 3.30PM (GMT) the ECB President will have a speech at the European Monetary Institute but it might not be relevant for the pair. The movement is sideways. The support is lying at 1.3625 and resistance at 1.3685.
Yesterday the GBP/USD pair slightly increased during yesterday’s trading hours. The pair was driven by weaker U.S. Dollar which depreciated due to previous speculations about U.S. testimony as well as on the actual hearing of Fed Chairman Janet Yellen. Today at 10.30AM (GMT) will be posted the Bank of England’s Inflation Report. The same time the BoE Governor Mark Carney will hold a press conference. The volatility should be high and bring a lot of trading opportunities. Traders are waiting for any hints when BoE will rise its interest rates. That might be bullish for the pair. The sentiment remains slightly bullish. The support lying at 1.6385 and resistance at 1.6490.
Contrarily from the others majors pairs, the USD/JPY pair was driven mainly by Yen not by U.S. Dollar. We saw an increase from 102.05 to 102.70 even though the U.S. Dollar sharply dropped during the Fed Chairman’s testimony before U.S. lawmakers. The pair slightly decreased during the Asian session despite worse than expected Core Machinery Orders and Tertiary Industry Activity. Today we should pay attention to U.S. Federal Budget Balance which will be released at 7.00PM (GMT). The sentiment is slightly bearish. The support is lying at 102.00 and resistance at 102.70.
February 12, 2014 – Forex News
Hot asset for today: EUR/USD
The EUR/USD pair strongly reacted on the yesterday’s testimony of Janet Yellen before U.S. lawmakers. The pair first erased the previous movement up which was made by speculation. Traders awaited more dovish report and due to worse-than-expected labor data maybe even change in a withdrawing of the monetary stimulus. However, as we can see in the report, she supported further tapering but connected with strong data. At 3.00PM (GMT) she started to talk and her speech was more dovish than the actual testimony which made the pair reverse and move back up but finished low at 1.3635 level. Today at 10.00AM the EU Industrial Production will be released and might cause some moderate movement. At 3.30PM (GMT) the ECB President will have a speech at the European Monetary Institute but it might not be relevant for the pair. The movement is sideways. The support is lying at 1.3625 and resistance at 1.3685.
Yesterday the GBP/USD pair slightly increased during yesterday’s trading hours. The pair was driven by weaker U.S. Dollar which depreciated due to previous speculations about U.S. testimony as well as on the actual hearing of Fed Chairman Janet Yellen. Today at 10.30AM (GMT) will be posted the Bank of England’s Inflation Report. The same time the BoE Governor Mark Carney will hold a press conference. The volatility should be high and bring a lot of trading opportunities. Traders are waiting for any hints when BoE will rise its interest rates. That might be bullish for the pair. The sentiment remains slightly bullish. The support lying at 1.6385 and resistance at 1.6490.
Contrarily from the others majors pairs, the USD/JPY pair was driven mainly by Yen not by U.S. Dollar. We saw an increase from 102.05 to 102.70 even though the U.S. Dollar sharply dropped during the Fed Chairman’s testimony before U.S. lawmakers. The pair slightly decreased during the Asian session despite worse than expected Core Machinery Orders and Tertiary Industry Activity. Today we should pay attention to U.S. Federal Budget Balance which will be released at 7.00PM (GMT). The sentiment is slightly bearish. The support is lying at 102.00 and resistance at 102.70.
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