The EUR/USD has climbed again today due to better than expected housing data from the UK. Though the UK does not use the euro, it is still a part of the European Union and its markets are closely linked with other Eurozone markets. Thus, good British data can give the euro a boost as well. Also note that many European markets are closed for Labor Day, so the pair may be quieter until the American session starts. Other important data to watch out for will be British manufacturing PMI data at 8:30 GMT, Fed chairwoman Janet Yellen’s speech at 12:30 GMT, and US ISM Manufacturing PMI at 14:00 GMT. In the meantime, look for support at 1.3783 and resistance at 1.3904.
The USD/JPY has been fluctuating today after falling a lot yesterday due to worse than expected US GDP data. Significant trending is unlikely until we see the results of US data later today. For the most part, we will probably see ranging. Furthermore, Japanese household spending data is coming out at 23:30 GMT, which could also affect the pair’s movement. For now, look for support at 102.02 and resistance at 102.77.
May 1, 2014 – Forex News
Hot Asset For Today: USD/JPY
The EUR/USD has climbed again today due to better than expected housing data from the UK. Though the UK does not use the euro, it is still a part of the European Union and its markets are closely linked with other Eurozone markets. Thus, good British data can give the euro a boost as well. Also note that many European markets are closed for Labor Day, so the pair may be quieter until the American session starts. Other important data to watch out for will be British manufacturing PMI data at 8:30 GMT, Fed chairwoman Janet Yellen’s speech at 12:30 GMT, and US ISM Manufacturing PMI at 14:00 GMT. In the meantime, look for support at 1.3783 and resistance at 1.3904.
The USD/JPY has been fluctuating today after falling a lot yesterday due to worse than expected US GDP data. Significant trending is unlikely until we see the results of US data later today. For the most part, we will probably see ranging. Furthermore, Japanese household spending data is coming out at 23:30 GMT, which could also affect the pair’s movement. For now, look for support at 102.02 and resistance at 102.77.
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