Activity in the pairing was significantly reduced namely due to the fact there were no financial news events of major importance because of the Easter weekend and yesterday, most of Europe were enjoying bank holiday Monday. Yesterday the euro fell slightly in favor the dollar and with very little activity in the markets by traders and investors, for the time being the dollar seems to be holding onto it present gains. Looking forward the euro zone today will be releasing Consumer Confidence data later this afternoon, which depending on the figures released may or may not create some noise in the pairing. Traders and investors must keep in mind that the euro is still burdened with low deflation in which the European Central Bank President Mario Draghi is yes to address with any action. The President is expected to comment on this later in the week. The financial events to look out for today are Consumer Confidence at 2.00pm GMT and Existing Home Sales at the same time. Today EUR/USD has support of 1.3780 and resistance of 1.3830.
GBP/USD
In a quiet trading session on account of the Easter holiday cable saw some gains at yesterday’s Asian session, however this was reversed in light trading throughout the course of yesterday. After reaching almost four and a half year highs the pound for the time being has seemed to have given back some of its gains. In terms of economic news events there is a clear lack of financial releases to come out of the U.K. today. Later today coming out of the U.S. a report is due to be released regarding Existing Homes Sales which may push the pound back up is figures come out less than expected. Traders and investors will be in anticipation of the meeting minutes of the Bank of England Monetary Policy Committee regarding the banks interest rate decision to be released tomorrow which may give some insight as to timescales of an interest rate hike. The financial events to look out for today is Existing Home Sales at 2.00pm GMT. Today GBP/USD has a support of 1.6720 and a resistance of 1.6820.
USD/JPY
The pairing has to a very large extent traded sideways yesterday. The Bank of Japan is quite clearly struggling with an almost two year trade deficit. Traders and investors are very much aware of the fact that direct action may become a necessity in the immediate future in the form of addressing monetary policy in order to putting the Japanese economy in the right forward direction. As with all the major pairings there is very little if any financial news events to be released today, with the exception of Existing Home Sales to come out later this afternoon. Today USD/JPY has support of 101.85 and resistance of 103.00.
April 22, 2014 – Forex News
Hot Asset For Today: EUR/USD
EUR/USD
Activity in the pairing was significantly reduced namely due to the fact there were no financial news events of major importance because of the Easter weekend and yesterday, most of Europe were enjoying bank holiday Monday. Yesterday the euro fell slightly in favor the dollar and with very little activity in the markets by traders and investors, for the time being the dollar seems to be holding onto it present gains. Looking forward the euro zone today will be releasing Consumer Confidence data later this afternoon, which depending on the figures released may or may not create some noise in the pairing. Traders and investors must keep in mind that the euro is still burdened with low deflation in which the European Central Bank President Mario Draghi is yes to address with any action. The President is expected to comment on this later in the week. The financial events to look out for today are Consumer Confidence at 2.00pm GMT and Existing Home Sales at the same time. Today EUR/USD has support of 1.3780 and resistance of 1.3830.
GBP/USD
In a quiet trading session on account of the Easter holiday cable saw some gains at yesterday’s Asian session, however this was reversed in light trading throughout the course of yesterday. After reaching almost four and a half year highs the pound for the time being has seemed to have given back some of its gains. In terms of economic news events there is a clear lack of financial releases to come out of the U.K. today. Later today coming out of the U.S. a report is due to be released regarding Existing Homes Sales which may push the pound back up is figures come out less than expected. Traders and investors will be in anticipation of the meeting minutes of the Bank of England Monetary Policy Committee regarding the banks interest rate decision to be released tomorrow which may give some insight as to timescales of an interest rate hike. The financial events to look out for today is Existing Home Sales at 2.00pm GMT. Today GBP/USD has a support of 1.6720 and a resistance of 1.6820.
USD/JPY
The pairing has to a very large extent traded sideways yesterday. The Bank of Japan is quite clearly struggling with an almost two year trade deficit. Traders and investors are very much aware of the fact that direct action may become a necessity in the immediate future in the form of addressing monetary policy in order to putting the Japanese economy in the right forward direction. As with all the major pairings there is very little if any financial news events to be released today, with the exception of Existing Home Sales to come out later this afternoon. Today USD/JPY has support of 101.85 and resistance of 103.00.
Related Posts: