Yesterday, the EUR/USD traded sideways as no important data was released. Market attention returned to Greece as negotiations continued as they neared another debt repayment. Late yesterday, it was confirmed that they made the payment of 750 million euros on time.
Today, the pair rallied upwards as the Dollar declined. Traders should remain up to date with the situation with Greece as liquidity issues are still looming. Traders should watch U.S JOLTS Job Openings data at 2PM (GMT). The movement is sideways. Support is found at 1.1065 and resistance at 1.1290.
Yesterday, the GBP/USD climbed as traders assessed last week’s election results along with the Official bank rate and statement. During early trade, U.K Industrial Production data was released and beat expectations; production increased by 0.7% in March when predicted to increase by 0.2%. Manufacturing Production also beat expectations and increased by 0.4% when predicted to increase by 0.3%. The pair continued to climb and reached a high of 1.5700.
Later today traders should watch the U.S JOLTS Jobs Openings data. If positive, we could see the pair drop back down. The movement is sideways. Support is found at 1.5500 and resistance at 1.5620.
May 12, 2015 – Forex News
Today’s Hot Asset: EUR/USD
EUR/USD
Yesterday, the EUR/USD traded sideways as no important data was released. Market attention returned to Greece as negotiations continued as they neared another debt repayment. Late yesterday, it was confirmed that they made the payment of 750 million euros on time.
Today, the pair rallied upwards as the Dollar declined. Traders should remain up to date with the situation with Greece as liquidity issues are still looming. Traders should watch U.S JOLTS Job Openings data at 2PM (GMT). The movement is sideways. Support is found at 1.1065 and resistance at 1.1290.
GBP/USD
Yesterday, the GBP/USD climbed as traders assessed last week’s election results along with the Official bank rate and statement. During early trade, U.K Industrial Production data was released and beat expectations; production increased by 0.7% in March when predicted to increase by 0.2%. Manufacturing Production also beat expectations and increased by 0.4% when predicted to increase by 0.3%. The pair continued to climb and reached a high of 1.5700.
Later today traders should watch the U.S JOLTS Jobs Openings data. If positive, we could see the pair drop back down. The movement is sideways. Support is found at 1.5500 and resistance at 1.5620.
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