Yesterday, the EUR/USD rallied and added 140 pips. Movement was driven by the weaker Dollar which depreciated on the back of worse than expected U.S data. The data offset expectations for the interest rate hike and this is bearish for the Dollar. U.S JOLTS Job Openings data added to this sentiment as it missed expectations and showed that there were 4.994M openings in March; analysts had expected to see 5.085M openings.
Today, the pair declined slightly after the release of weak European data including the German GDP, EU GDP and EU Industrial Production. The movement was erased, however, and the pair added 100 pips immediately following the release of U.S Retails Sales; Sales in the month of April increased by just 0%, below the predicted 0.2%. The movement is sideways. Support is found at 1.1130 and resistance at 1.1390.
Yesterday, the USD/JPY fell from 120.25 to 119.7. As with other pairs, movement was driven by the Dollar. During the Asian session, the Yen was also boosted as stronger than expected data was released from Japan. The Adjusted Current Account climbed to 2.07T, showing that the weaker Yen has boosted exports.
Today, the pair continued to fall. U.S Retail Sales figures were just released; Core Retail Sales increased by just 0.1% in April, below expectations of 0.5%. Following the release, the pair plummeted down and is currently trading around 119.25. Traders should watch a range of data during the Asian session including the Japanese M2 Money Stock. The movement is sideways. Support is found at 119.20 and resistance at 120.50.
May 13, 2015 – Forex News
Today’s Hot Asset: EUR/USD
EUR/USD
Yesterday, the EUR/USD rallied and added 140 pips. Movement was driven by the weaker Dollar which depreciated on the back of worse than expected U.S data. The data offset expectations for the interest rate hike and this is bearish for the Dollar. U.S JOLTS Job Openings data added to this sentiment as it missed expectations and showed that there were 4.994M openings in March; analysts had expected to see 5.085M openings.
Today, the pair declined slightly after the release of weak European data including the German GDP, EU GDP and EU Industrial Production. The movement was erased, however, and the pair added 100 pips immediately following the release of U.S Retails Sales; Sales in the month of April increased by just 0%, below the predicted 0.2%. The movement is sideways. Support is found at 1.1130 and resistance at 1.1390.
USD/JPY
Yesterday, the USD/JPY fell from 120.25 to 119.7. As with other pairs, movement was driven by the Dollar. During the Asian session, the Yen was also boosted as stronger than expected data was released from Japan. The Adjusted Current Account climbed to 2.07T, showing that the weaker Yen has boosted exports.
Today, the pair continued to fall. U.S Retail Sales figures were just released; Core Retail Sales increased by just 0.1% in April, below expectations of 0.5%. Following the release, the pair plummeted down and is currently trading around 119.25. Traders should watch a range of data during the Asian session including the Japanese M2 Money Stock. The movement is sideways. Support is found at 119.20 and resistance at 120.50.
Related Posts: