The EUR/USD has started today by climbing a bit as the dollar comes under downward pressure from tension in Iraq. Furthermore, the pair has been relatively low since last week’s Nonfarm Payrolls data and it is possible the pair could be undergoing an upward correction, Keep an eye out for US PPI data coming out 12:30 GMT and for US Michigan Consumer Expectations and Sentiment reports coming out at 13:55 GMT. These events will likely be the main source of movement for the pair before the weekend. Look for support at 1.3500 and resistance at 1.3600.
The USD/JPY has been climbing today after Japanese industrial production data came out worse than expected – pushing the yen down. Keep in mind, the Bank of Japan just announced that they would be leaving the interest rate unchanged – an action that appears to be strengthening the yen. There will be a press conference shortly where officials will describe their outlook on the economy. Should they mention anything about increase stimulus, this could bring the yen back down. Look for support at at 101.75 and resistance at 102.15.
June 13, 2014 – Forex News
Hot Asset For Today: EUR/USD
The EUR/USD has started today by climbing a bit as the dollar comes under downward pressure from tension in Iraq. Furthermore, the pair has been relatively low since last week’s Nonfarm Payrolls data and it is possible the pair could be undergoing an upward correction, Keep an eye out for US PPI data coming out 12:30 GMT and for US Michigan Consumer Expectations and Sentiment reports coming out at 13:55 GMT. These events will likely be the main source of movement for the pair before the weekend. Look for support at 1.3500 and resistance at 1.3600.
Related Posts: