The euro, despite disappointing manufacturing PMI data managed to continue its movement upwards slightly. European Central Bank Vice President, Vitor Constancio indicated that he did not see deflation prospects in the Euro-zone but at the same time warned that the economy could face a protracted period of low inflation, which could act as a drag on the region’s economic recovery. Today we should pay attention to the U.S. ADP Non-Farm Employment Change which is a leading indicator of an estimate indicating job creation. The estimation is to see very high value after last good Non-farm payrolls data which might positively affect the U.S. Dollar. The financial events to look out for today are ADP Non-Farm Employment Change at 12.15PM GMT and US Factory Orders at 2.00PM GMT. Today EUR/USD has support of 1.3750 and resistance of 1.3845.
GBP/USD
The pairing went slightly downwards to the detriment of the pound yesterday namely due to the fact that manufacturing PMI data form both the U.K and the U.S both came out negative. Manufacturing PMI in the U.K declined to its lowest levels since June 2013. In the beginning of the week Federal Reserve Chairman Janet Yellen stated that “considerable slack” remained in the US economy and this would require further stimulus measures. Earlier today in the Asian session the pairing to a certain extent seem to be moving flat. A report coming out from the U.K regarding the Construction PMI later this morning will give traders and investors another glimpse and an indication towards economic health. Also traders and investors will be anticipating the outcome of the figures that will be released later today is the ADP Non-Farm Employment Change which is an important leading indicator of job creation. The financial events to look out for today are Construction PMI at 8.30am GMT and ADP Non-Farm Employment Change at 12.15pm GMT.Today GBP/USD has a support of 1.6600 and a resistance of 1.6685
USD/JPY
The pairing has climbed up in favor if the dollar throughout the trading session yesterday namely due to the fact that the Japanese government imposed an increase in the sales tax which no doubt caused a certain amount of turbulence in the pairing. This gives a clear sign to traders and investors that there may be the possibility that the Bank of Japan may have no choice but to increase the current stimulus in order to avoid any adverse effects. The yen is close to hitting a two month low against the dollar and the fact that investors and traders are looking forward to data being released later this afternoon from the U.S in the form of ADP Non-Farm Employment Change. The financial events to look out for today is ADP Non-Farm Employment Change at 12.15pm GMT.
April 2, 2014 – Forex News
Hot Asset For Today: EUR/USD
EUR/USD
The euro, despite disappointing manufacturing PMI data managed to continue its movement upwards slightly. European Central Bank Vice President, Vitor Constancio indicated that he did not see deflation prospects in the Euro-zone but at the same time warned that the economy could face a protracted period of low inflation, which could act as a drag on the region’s economic recovery. Today we should pay attention to the U.S. ADP Non-Farm Employment Change which is a leading indicator of an estimate indicating job creation. The estimation is to see very high value after last good Non-farm payrolls data which might positively affect the U.S. Dollar. The financial events to look out for today are ADP Non-Farm Employment Change at 12.15PM GMT and US Factory Orders at 2.00PM GMT. Today EUR/USD has support of 1.3750 and resistance of 1.3845.
GBP/USD
The pairing went slightly downwards to the detriment of the pound yesterday namely due to the fact that manufacturing PMI data form both the U.K and the U.S both came out negative. Manufacturing PMI in the U.K declined to its lowest levels since June 2013. In the beginning of the week Federal Reserve Chairman Janet Yellen stated that “considerable slack” remained in the US economy and this would require further stimulus measures. Earlier today in the Asian session the pairing to a certain extent seem to be moving flat. A report coming out from the U.K regarding the Construction PMI later this morning will give traders and investors another glimpse and an indication towards economic health. Also traders and investors will be anticipating the outcome of the figures that will be released later today is the ADP Non-Farm Employment Change which is an important leading indicator of job creation. The financial events to look out for today are Construction PMI at 8.30am GMT and ADP Non-Farm Employment Change at 12.15pm GMT.Today GBP/USD has a support of 1.6600 and a resistance of 1.6685
USD/JPY
The pairing has climbed up in favor if the dollar throughout the trading session yesterday namely due to the fact that the Japanese government imposed an increase in the sales tax which no doubt caused a certain amount of turbulence in the pairing. This gives a clear sign to traders and investors that there may be the possibility that the Bank of Japan may have no choice but to increase the current stimulus in order to avoid any adverse effects. The yen is close to hitting a two month low against the dollar and the fact that investors and traders are looking forward to data being released later this afternoon from the U.S in the form of ADP Non-Farm Employment Change. The financial events to look out for today is ADP Non-Farm Employment Change at 12.15pm GMT.
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