The EUR/USD jumped up about 100 pips after 1.30PM (GMT) due to worse-than-expected Non-farm payrolls pre-data and due to European Central Bank President’s speech. Mario Draghi summed up the Euro outlook and potential downward risk. He said that ECB could take action next month if the inflation data comes out again weak. The interest rates has remained unchanged and that’s why we saw such a bullishness in the Euro currency. The pair is now ranging around 1.3590 and awaiting of main event of the month. Today at 1.30PM (GMT) the Non-farm Payrolls will be released together with Unemployment rate. Last time we saw the rate 6.7% which was less than expected 7%, however, the actual figure of payrolls came out very low. In general, today the market is expecting a number around 185K and if the figure will again come very low the pair might increase back to 1.3700 area. The support is lying at 1.3555 and resistance at 1.3640.
Yesterday the GBP/USD pair slightly decreased below 1.6300 before the actual U.S. data came out. As soon as we saw the data came out below expectation the pair reversed and increased almost to 1.6350 area. The U.S. Nonfarm Productivity and Unit Labour cost are the last data which are coming out before today’s Non-farm payrolls. Due to disappointing data the market started to speculate over weaker figure than 185K. We should not forget that at 9.30AM (GMT) we should pay attention to U.K. Manufacturing Production. Last time we saw quite disappointing result so if the data keeps going worse-than-expected it might point on slower recovery. The support lying at 1.6260 and resistance at 1.6350.
The USD/JPY pair contrarily from the others pair continued its movement up despite the disappointing U.S. data which reduced the positive expectation over the today’s Non-farm payrolls the pair continued its upper trend broke its resistance and returned above 102.00 level. This might point on speculative movement up and if the data comes out below forecast we could see the pair back around 101.20 area. The sentiment is slightly bullish with support at 101.20 and resistance at 101.80.
February 7, 2014 – Forex News
Hot asset for today: EUR/USD
The EUR/USD jumped up about 100 pips after 1.30PM (GMT) due to worse-than-expected Non-farm payrolls pre-data and due to European Central Bank President’s speech. Mario Draghi summed up the Euro outlook and potential downward risk. He said that ECB could take action next month if the inflation data comes out again weak. The interest rates has remained unchanged and that’s why we saw such a bullishness in the Euro currency. The pair is now ranging around 1.3590 and awaiting of main event of the month. Today at 1.30PM (GMT) the Non-farm Payrolls will be released together with Unemployment rate. Last time we saw the rate 6.7% which was less than expected 7%, however, the actual figure of payrolls came out very low. In general, today the market is expecting a number around 185K and if the figure will again come very low the pair might increase back to 1.3700 area. The support is lying at 1.3555 and resistance at 1.3640.
Yesterday the GBP/USD pair slightly decreased below 1.6300 before the actual U.S. data came out. As soon as we saw the data came out below expectation the pair reversed and increased almost to 1.6350 area. The U.S. Nonfarm Productivity and Unit Labour cost are the last data which are coming out before today’s Non-farm payrolls. Due to disappointing data the market started to speculate over weaker figure than 185K. We should not forget that at 9.30AM (GMT) we should pay attention to U.K. Manufacturing Production. Last time we saw quite disappointing result so if the data keeps going worse-than-expected it might point on slower recovery. The support lying at 1.6260 and resistance at 1.6350.
The USD/JPY pair contrarily from the others pair continued its movement up despite the disappointing U.S. data which reduced the positive expectation over the today’s Non-farm payrolls the pair continued its upper trend broke its resistance and returned above 102.00 level. This might point on speculative movement up and if the data comes out below forecast we could see the pair back around 101.20 area. The sentiment is slightly bullish with support at 101.20 and resistance at 101.80.
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