On Friday, the EUR/USD declined following the release of the NFP data. The data was mixed but traders mostly took it to be positive. Although the actual NFP figure slightly missed expectations, it was significantly higher than last month and remained above 220K. In addition, the U.S Unemployment rate dropped to 5.4% which is the lowest rate seen since 2008. By the end of the session the pair was trading around 1.1170.
Today, the price is trading sideways between 1.1133 and 1.1200. Investors will be eyeing the Eurogroup talks as Greek negotiations continue and another payment is due tomorrow. Other than this, no important data is set to be released. The movement is sideways. Support is found at 1.1065 and resistance at 1.1290.
On Friday, the GBP/USD reached a high of 1.5520 as investors continued to react to the result of the U.K election as the Conservative party came out as the clear winner. The pound was boosted by hopes that the government would be strong as the result was originally expected to be tied. Later in the session, a mixed NFP figure was released but there was little reaction in the market.
Today, the pair is climbing and has currently reached 1.5560. The BoE voted to keep the interest rate at 0.5% and to maintain the current rate of stimulus. It was also noted that inflation should start to pick up in the third quarter. The movement is slightly up. Support is found at 1.5300 and resistance at 1.5520.
May 11, 2015 – Forex News
Today’s Hot Asset: EUR/USD
EUR/USD
On Friday, the EUR/USD declined following the release of the NFP data. The data was mixed but traders mostly took it to be positive. Although the actual NFP figure slightly missed expectations, it was significantly higher than last month and remained above 220K. In addition, the U.S Unemployment rate dropped to 5.4% which is the lowest rate seen since 2008. By the end of the session the pair was trading around 1.1170.
Today, the price is trading sideways between 1.1133 and 1.1200. Investors will be eyeing the Eurogroup talks as Greek negotiations continue and another payment is due tomorrow. Other than this, no important data is set to be released. The movement is sideways. Support is found at 1.1065 and resistance at 1.1290.
GBP/USD
On Friday, the GBP/USD reached a high of 1.5520 as investors continued to react to the result of the U.K election as the Conservative party came out as the clear winner. The pound was boosted by hopes that the government would be strong as the result was originally expected to be tied. Later in the session, a mixed NFP figure was released but there was little reaction in the market.
Today, the pair is climbing and has currently reached 1.5560. The BoE voted to keep the interest rate at 0.5% and to maintain the current rate of stimulus. It was also noted that inflation should start to pick up in the third quarter. The movement is slightly up. Support is found at 1.5300 and resistance at 1.5520.
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