The pairing throughout the course of yesterday’s U.S session looked like the euro would continue to rally upwards however was unable to hold on to its gains following positive data on existing home sales in the U.S. Traders and investors are keenly waiting and anticipating for the speech European President Mario Draghi later in the week, in particular towards the subject of deflation in the euro zone. Ysterday European Central Bank Executive Board member Benoit Coeure stated ‘that the bank still had room to lower its key interest rates’. Today will be the most eventful day of the week in terms of financial publications where both France and Germany will later provide data regarding manufacturing which if released showing positive figures will not only be advantageous to the euro but also will provide investors and traders an indication of economic growth in the euro zone.The financial events to look out for today are French Flash Manufacturing PMI at 7.00am GMT, German Flash Manufacturing PMI at 7.30am GMT and New Home Sales at 2.00pm. Today EUR/USD has support of 1.3780 and resistance of 1.3835.
GBP/USD
Cable is slowly continuing its upwards streak. Traders and investors are already speculating in what may be disclosed in the in the minutes of the monetary policy committee meeting. It may be assumed that if there is mention regarding an increase in Bank of England interest rates in the not too soon future, this may give way for bullish activity continuing to be seen in the pairing today. In the U.S traders and investors are to a certain extent expecting positive figure to be released later in the afternoon which may counteract the pairings continued upwards trend in favor of the pound. The financial events to look out for today are MPC Asset Purchase Facility Votes and MPC Official Bank Rate Votes at 8.30am GMTand New Home Sales at 2.00pm.Today GBP/USD has a support of 1.6785 and a resistance of 1.6839.
USD/JPY
The pairing seems to be moving sideways and at times moving in favor of the dollar early this morning even though, earlier today Bank of Japan Governor Kuroda quoted in a parliamentary testimony that the economy is still on track toward stable 2% inflation and that once reached, support to fiscal policy will also decrease in strength. The yen historically has a tendency to be seen as having safe haven status is not necessarily been seen as such from traders and investors at present even in such tense times between Russia and the Ukraine where the Ukrainian Government announced yesterday that they will be resuming their anti terrorist measures to address the situation in the Crimean region. The financial event to look out for today is New Home Sales at 2.00pm. Today USD/JPY has support of 101.85 and resistance of 102.70
April 23, 2014 – Forex News
Hot Asset For Today: GBP/USD
The pairing throughout the course of yesterday’s U.S session looked like the euro would continue to rally upwards however was unable to hold on to its gains following positive data on existing home sales in the U.S. Traders and investors are keenly waiting and anticipating for the speech European President Mario Draghi later in the week, in particular towards the subject of deflation in the euro zone. Ysterday European Central Bank Executive Board member Benoit Coeure stated ‘that the bank still had room to lower its key interest rates’. Today will be the most eventful day of the week in terms of financial publications where both France and Germany will later provide data regarding manufacturing which if released showing positive figures will not only be advantageous to the euro but also will provide investors and traders an indication of economic growth in the euro zone.The financial events to look out for today are French Flash Manufacturing PMI at 7.00am GMT, German Flash Manufacturing PMI at 7.30am GMT and New Home Sales at 2.00pm. Today EUR/USD has support of 1.3780 and resistance of 1.3835.
GBP/USD
Cable is slowly continuing its upwards streak. Traders and investors are already speculating in what may be disclosed in the in the minutes of the monetary policy committee meeting. It may be assumed that if there is mention regarding an increase in Bank of England interest rates in the not too soon future, this may give way for bullish activity continuing to be seen in the pairing today. In the U.S traders and investors are to a certain extent expecting positive figure to be released later in the afternoon which may counteract the pairings continued upwards trend in favor of the pound. The financial events to look out for today are MPC Asset Purchase Facility Votes and MPC Official Bank Rate Votes at 8.30am GMTand New Home Sales at 2.00pm.Today GBP/USD has a support of 1.6785 and a resistance of 1.6839.
USD/JPY
The pairing seems to be moving sideways and at times moving in favor of the dollar early this morning even though, earlier today Bank of Japan Governor Kuroda quoted in a parliamentary testimony that the economy is still on track toward stable 2% inflation and that once reached, support to fiscal policy will also decrease in strength. The yen historically has a tendency to be seen as having safe haven status is not necessarily been seen as such from traders and investors at present even in such tense times between Russia and the Ukraine where the Ukrainian Government announced yesterday that they will be resuming their anti terrorist measures to address the situation in the Crimean region. The financial event to look out for today is New Home Sales at 2.00pm. Today USD/JPY has support of 101.85 and resistance of 102.70
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