The EUR/USD pair slightly decreased during the yesterday’s trading hours. The main movement came with U.S. ISM Manufacturing PMI release which showed better-than-expected result and increase the hope for stronger Friday’s Non-Farm Payrolls. The pair reversed at 1.3720 level and before the European session started the pair erased the movement down. We also heard ECB President Mario Draghi testifying. In his testimony he sum up the past policy and the effect on market. The testimony was more dovish which may point on possible act on Thursday (ECB meeting).Today we do not expect any important economic data from U.S. or EU market. At 9.15AM (GMT) the Federal Reserve Bank of Richmond President Jeffrey Lacker speaks at the Council for Economic Education’s economic summit. The support is lying at 1.3720 and resistance at 1.3830.
Yesterday the GBP/USD pair dropped more than EUR/USD driven by good U.S. ISM Manufacturing PMI. Traders expected probably weak data connected with long and tough winter but we saw finally increase (the result came out 53.2 compare to last 51.3). However, even this result is far from where it used to be before the winter came (57.0). Today at 9.30AM (GMT) the U.K. Construction PMI will be announced. Last time in February we saw significant movement as the data showed strong results. At 10.30AM (GMT) we should pay attention tothe speech of MPC member Jon Cunliffe and that might cause some higher volatility. The trend is slightly bearish but might reverse on the fundamental events. The support lying at 1.6600 and resistance at 1.6770.
Yesterday the USD/JPY pair fell to its 4-week low and reversed on its support at 101.20. The pair was mainly driven by Yen which profited from the Ukraine political situation as the safe-haven asset. With good U.S. data the pair reversed and during the Asian session climbed almost to 102.00 level. At 6.30AM (GMT) Bank of Japan Kuroda is speaking in parliament and might push the pair back down on hawkish statements (mainly about quantitative easing program). The pair should be also affected today by further development of the tension in Ukraine. The movement is slightly bullish. The support is lying at 101.20 and resistance at 102.20.
March 4, 2014 – Forex News
Hot asset for today: GBP/USD
The EUR/USD pair slightly decreased during the yesterday’s trading hours. The main movement came with U.S. ISM Manufacturing PMI release which showed better-than-expected result and increase the hope for stronger Friday’s Non-Farm Payrolls. The pair reversed at 1.3720 level and before the European session started the pair erased the movement down. We also heard ECB President Mario Draghi testifying. In his testimony he sum up the past policy and the effect on market. The testimony was more dovish which may point on possible act on Thursday (ECB meeting).Today we do not expect any important economic data from U.S. or EU market. At 9.15AM (GMT) the Federal Reserve Bank of Richmond President Jeffrey Lacker speaks at the Council for Economic Education’s economic summit. The support is lying at 1.3720 and resistance at 1.3830.
Yesterday the GBP/USD pair dropped more than EUR/USD driven by good U.S. ISM Manufacturing PMI. Traders expected probably weak data connected with long and tough winter but we saw finally increase (the result came out 53.2 compare to last 51.3). However, even this result is far from where it used to be before the winter came (57.0). Today at 9.30AM (GMT) the U.K. Construction PMI will be announced. Last time in February we saw significant movement as the data showed strong results. At 10.30AM (GMT) we should pay attention tothe speech of MPC member Jon Cunliffe and that might cause some higher volatility. The trend is slightly bearish but might reverse on the fundamental events. The support lying at 1.6600 and resistance at 1.6770.
Yesterday the USD/JPY pair fell to its 4-week low and reversed on its support at 101.20. The pair was mainly driven by Yen which profited from the Ukraine political situation as the safe-haven asset. With good U.S. data the pair reversed and during the Asian session climbed almost to 102.00 level. At 6.30AM (GMT) Bank of Japan Kuroda is speaking in parliament and might push the pair back down on hawkish statements (mainly about quantitative easing program). The pair should be also affected today by further development of the tension in Ukraine. The movement is slightly bullish. The support is lying at 101.20 and resistance at 102.20.
Related Posts: