The EUR/USD has been fluctuating since the latter half of yesterday. Despite the quieting influence of the weekend, the EUR/USD may experience some upward movement today as the German CPI data just came out meeting expectations – a bullish tidbit considering that the whole EU is worried about deflationary pressure on the euro. The main event to watch today is the Federal Budget balance for the United States, which will come out at 18:00 GMT. In the meantime, look for support at 1.3576 and resistance at 1.3650.
The USD/JPY is currently fluctuating within a small range after sinking quite a bit yesterday as a result of the weakened dollar. Due to the coming weekend, this movement may likely continue, as there is not a lot of data that could potentially move the pair. The key influences long term influences still at play are the Fed’s decision to keep the interest rate unchanged and the Bank of Japan’s goal to reach a 2% inflation – forces that currently collide with each other. Look for support 101.223 and resistance 101.86.
July 11, 2014
Hot Asset For Today: EUR/USD
The EUR/USD has been fluctuating since the latter half of yesterday. Despite the quieting influence of the weekend, the EUR/USD may experience some upward movement today as the German CPI data just came out meeting expectations – a bullish tidbit considering that the whole EU is worried about deflationary pressure on the euro. The main event to watch today is the Federal Budget balance for the United States, which will come out at 18:00 GMT. In the meantime, look for support at 1.3576 and resistance at 1.3650.
The USD/JPY is currently fluctuating within a small range after sinking quite a bit yesterday as a result of the weakened dollar. Due to the coming weekend, this movement may likely continue, as there is not a lot of data that could potentially move the pair. The key influences long term influences still at play are the Fed’s decision to keep the interest rate unchanged and the Bank of Japan’s goal to reach a 2% inflation – forces that currently collide with each other. Look for support 101.223 and resistance 101.86.
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