The EUR/USD pair has continued its sideways movement. We can see that despite stronger economic data from U.S. and weaker data from EU, market see the price around 1.36. Investors are probably afraid of quite dovish policy of Fed and their previous statements and therefore the Euro decline is not significant in this pairing as we can see it e.g. in EUR/JPY. Today there will be two important releases which should have impact on the price. First the GfK German Consumer Climate which will come out at 6.00AM (GMT) and is expected slightly higher than in previous readings. With regards to yesterday’s German Ifo Business Climate which came out below expectation, we should expect the same today. But more important for the pair will be U.S. Core Durable Goods Orders and Final GDP data which is about to be released at 12.30PM (GMT). The trend is sideways. The support is lying at 1.3560 and resistance at 1.3640.
The GBP/USD pair decreased and left the area above 1.7000. Previously we saw bullish movement to the area as most of the investors believed that Bank of England will introduce their plan to increase the interest rates already this year. However, yesterday’s Inflation Report Hearings report showed that monetary policy committee will hold the interest rates low probably to the second quarter 2015 which is later than the market expect. Therefore the pair dropped down about 50 pips and currently is traded around 1.6970. Today at 10.00AM (GMT) the U.K. CBI Realized Sales will be posted. Bigger movement is expected at 12.30PM (GMT) when the U.S. Core Durable Goods Orders and Final GDP will be released. The sentiment is slightly bearish. The support is lying at 1.6930 and resistance at 1.7010.
June 25, 2014 – Forex News
Hot asset for today: EUR/USD
The EUR/USD pair has continued its sideways movement. We can see that despite stronger economic data from U.S. and weaker data from EU, market see the price around 1.36. Investors are probably afraid of quite dovish policy of Fed and their previous statements and therefore the Euro decline is not significant in this pairing as we can see it e.g. in EUR/JPY. Today there will be two important releases which should have impact on the price. First the GfK German Consumer Climate which will come out at 6.00AM (GMT) and is expected slightly higher than in previous readings. With regards to yesterday’s German Ifo Business Climate which came out below expectation, we should expect the same today. But more important for the pair will be U.S. Core Durable Goods Orders and Final GDP data which is about to be released at 12.30PM (GMT). The trend is sideways. The support is lying at 1.3560 and resistance at 1.3640.
The GBP/USD pair decreased and left the area above 1.7000. Previously we saw bullish movement to the area as most of the investors believed that Bank of England will introduce their plan to increase the interest rates already this year. However, yesterday’s Inflation Report Hearings report showed that monetary policy committee will hold the interest rates low probably to the second quarter 2015 which is later than the market expect. Therefore the pair dropped down about 50 pips and currently is traded around 1.6970. Today at 10.00AM (GMT) the U.K. CBI Realized Sales will be posted. Bigger movement is expected at 12.30PM (GMT) when the U.S. Core Durable Goods Orders and Final GDP will be released. The sentiment is slightly bearish. The support is lying at 1.6930 and resistance at 1.7010.
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