The pairing remained largely flat moving in a sideways direction throughout the course of both American and Asian sessions. Data regarding inflation in the U.S came out better than expected. This in turn continued a downtrend for the euro against the dollar for a third day in a row. However it is clear that the pairing, even after comments from European Central Bank officials, namely Mario Draghi the current price of the pairing is still relatively high due to low inflation in the euro zone. It will be interesting to see later today as to whether the pairing will be swung one way or another once the report on inflation from the euro zone will be released. Investors and traders will clearly realize the importance of these figures upon release. The financial events to look out for today are Core CPI y/y at 9.00pm GMT, Building Permits at 12.30pm GMT and Fed Chair Yellen Speaks at 4.15pm GMT. Today EUR/USD has support of 1.3780 and resistance of 1.3840.
GBP/USD
The pairing has continued to decline in favor of the dollar for the fourth day in a row. Although the pound fell slightly against the dollar during the U.S session yesterday due to the positive outcome of the inflation report that came out above forecast, the pairing remained flat throughout the end of the session. Prior to this report the U.K also released figures show inflation remained unchanged and in line with expectations and within target levels. The pairing is now experiencing sharp fluctuation in anticipation of the report revealing the change in the number of people claiming unemployment related benefits. It certainly looks like that investors and traders are expecting better than expected figures which in turn will push the pairing upwards in favor of the pound. It is also advisable to keep a close eye on a speech that will be made today by Fed Chair Janet Yellen as to whether she will speak about the situation of the current U.S economy or current monetary policy. The financial events to look out for today are Claimant Count Change8.30am GMT and and Fed Chair Yellen Speaks at 4.15pm GMT. Today GBP/USD has a support of 1.6640 and a resistance of 1.6750.
USD/JPY
The dollar has clearly risen against the yen as data regarding inflation from the U.S showed positive figures. Also tensions between Russia and the Ukraine have been seen to currently be on a back burner. Bank of Japan governor Kuroda gave a speech this morning emphasizing a number of points. He confirmed the fact that Japan is firmly on track towards the inflation target. Also mentioned was the fact that it is too early to discuss an exit from its unconventional monetary policy. The yen may also be weakened today in favor of the dollar if financial data, in particular in regards to U.S Building Permits which is a key indicator of demand in the housing market. Until then the pairing may remain flat throughout the course of the day. The financial events to look out for today are Building Permits at 12.30pm GMT and Fed Chair Yellen Speaks at 4.15pm GMT. Today USD/JPY has support of 101.30 and resistance of 102.70.
April 16, 2014 – Forex News
Hot Asset for Today: GBP/USD
EUR/USD
The pairing remained largely flat moving in a sideways direction throughout the course of both American and Asian sessions. Data regarding inflation in the U.S came out better than expected. This in turn continued a downtrend for the euro against the dollar for a third day in a row. However it is clear that the pairing, even after comments from European Central Bank officials, namely Mario Draghi the current price of the pairing is still relatively high due to low inflation in the euro zone. It will be interesting to see later today as to whether the pairing will be swung one way or another once the report on inflation from the euro zone will be released. Investors and traders will clearly realize the importance of these figures upon release. The financial events to look out for today are Core CPI y/y at 9.00pm GMT, Building Permits at 12.30pm GMT and Fed Chair Yellen Speaks at 4.15pm GMT. Today EUR/USD has support of 1.3780 and resistance of 1.3840.
GBP/USD
The pairing has continued to decline in favor of the dollar for the fourth day in a row. Although the pound fell slightly against the dollar during the U.S session yesterday due to the positive outcome of the inflation report that came out above forecast, the pairing remained flat throughout the end of the session. Prior to this report the U.K also released figures show inflation remained unchanged and in line with expectations and within target levels. The pairing is now experiencing sharp fluctuation in anticipation of the report revealing the change in the number of people claiming unemployment related benefits. It certainly looks like that investors and traders are expecting better than expected figures which in turn will push the pairing upwards in favor of the pound. It is also advisable to keep a close eye on a speech that will be made today by Fed Chair Janet Yellen as to whether she will speak about the situation of the current U.S economy or current monetary policy. The financial events to look out for today are Claimant Count Change8.30am GMT and and Fed Chair Yellen Speaks at 4.15pm GMT. Today GBP/USD has a support of 1.6640 and a resistance of 1.6750.
USD/JPY
The dollar has clearly risen against the yen as data regarding inflation from the U.S showed positive figures. Also tensions between Russia and the Ukraine have been seen to currently be on a back burner. Bank of Japan governor Kuroda gave a speech this morning emphasizing a number of points. He confirmed the fact that Japan is firmly on track towards the inflation target. Also mentioned was the fact that it is too early to discuss an exit from its unconventional monetary policy. The yen may also be weakened today in favor of the dollar if financial data, in particular in regards to U.S Building Permits which is a key indicator of demand in the housing market. Until then the pairing may remain flat throughout the course of the day. The financial events to look out for today are Building Permits at 12.30pm GMT and Fed Chair Yellen Speaks at 4.15pm GMT. Today USD/JPY has support of 101.30 and resistance of 102.70.
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