Daily EURUSD & GBPUSD Analysis by HotForex

[vic84]

EURUSD is on a steady upward trend, no signs of a pullback...

[HotForex]

EURUSD trading higher ahead of the ECB rate decision. US Unemployment Claims and GDP data on tap.

 

EURUSD rose yesterday and closed at 1.3592. The Gross Domestic Product in the Eurozone came out in line with the market expectation at 0.1 percent in the third quarter of 2013. The Retail Sales month over month dropped 0.2 percent in October. In the United States the ADP Non-Farm Payrolls report indicated that the private sector created 215,000 jobs in November. The New Home Sales recorded a gain as well surprising the markets coming at a reading of 444K. The Trade Balance in the US came in line with the market expectations at 40.6 billion. Investors are now looking forward for the ECB Rate decision and the ECB Press Conference. Another series of high impact data is due from the United States as well including the Unemployment Claims and the Preliminary Gross Domestic Product quarter over quarter releases. Investors should be fully aware of the potential high volatility on the market during the time of the economical releases. Support for the EURUSD is seen at 1.3540 and resistance is seen at 1.3633. The HotForex Traders Board shows that 68 percent of the traders are short on the EURUSD.

 

http://blog.hotforex.com/wp-content/uploads/2013/12/EURUSD-05-December-2013.jpg

 

GBPUSD

 

The Cable dropped yesterday and closed at 1.6381. The Services Purchasing Managers Index in the United Kingdom dropped to a reading of 60.0 in November. Investors are now looking forward for the series of high impact data due from the UK today including the MPC Rate Statement, the Official Bank Rate, the Asset Purchase Facility and the Autumn Forecast Statement. We are expecting to witness high volatility on the market during the time of the events and investors should be fully aware of it. Support for the GBPUSD is seen at 1.6297 and resistance is seen at 1.6433. The HotForex Traders Board shows that 76 percent of the traders are short on the GBPUSD.

 

http://blog.hotforex.com/wp-content/uploads/2013/12/GBPUSD-05-December-2013.jpg

 

- See more at: http://blog.hotforex.com/eurusd-trading-higher-ahead-of-the-ecb-rate-decision-us-unemployment-claims-and-gdp-data-on-tap/#sthash.J3gw4ZJS.dpuf

[HotForex]

EURUSD trading near the session highs ahead of the US Non-Farm Payrolls report

 

EURUSD rose yesterday and closed at 1.3665. The European Central Bank left the benchmark interest rate unchanged at 0.25 percent. The President of the European Central Bank Mario Draghi stated that ECB is ready to add new measures to stimulate the recovery in the Euro area, but didn’t mentioned any specific measures that will be taken in the future. The Finance Minister of Germany Wolfgang Schaeuble supported the European Central Bank stating that the bank has made progress in its efforts to maintain price stability and a responsible monetary policy. The Unemployment Claims in the United States came out better than expected, but the release was overshadowed by the ECB decision. Investors are now looking forward for the Non-Farm Payrolls report due from the United States later today. Investors should be fully aware of the potential high volatility on the market during the time of the release. Support for the EURUSD is seen at 1.3579 and resistance is seen at 1.3675. The HotForex Traders Board shows that 75 percent of the traders are short on the EURUSD.

 

http://blog.hotforex.com/wp-content/uploads/2013/12/EURUSD-06-December-2013.jpg

 

- See more at: http://blog.hotforex.com/eurusd-trading-near-the-session-highs-ahead-of-the-us-non-farm-payrolls-report/#sthash.vpCEPosS.dpuf

[HotForex]

EURUSD trading steady above the 1.3700 level. FOMC Member James Bullard speaks later today.

 

 

EURUSD rose on Friday and closed at 1.3704. The US dollar lost strength against its European counterpart after the President of the United States Federal Reserve in Chicago Charles Evens stated that he would like to see a few more job reports like the one in November in order to support a cut of the bond-buying program of FED. A report showed that the unemployment rate in the US dropped to a level of 7.0 percent in November. Another official report showed that the Non-Farm Payrolls in the country rose to a reading of 203,000 in November. In the Eurozone the Factory Orders in Germany declined more than the market expectation to a reading of 2.2 percent in October. During the weekend the plan of the German Chancellor Angela Merkel to rule with the centre-left Social Democrats failed after the youth’s section of the party voted “NO” to her coalition deal. Later in the session we have the speech from the FOMC Member James Bullard due on the Economic Calendar. Investors should be prepared for a potential volatility on the market caused by his comments. Support for the EURUSD is seen at 1.3651 and resistance is seen at 1.3727. The HotForex Traders Board shows that 72 percent of the traders are short on the EURUSD.

 

http://blog.hotforex.com/wp-content/uploads/2013/12/EURUSD-09-December-2013.jpg

 

See more at: http://blog.hotforex.com/eurusd-trading-steady-above-the-1-3700-level-fomc-member-james-bullard-speaks-later-today/#sthash.i9leIbIY.dpuf

[HotForex]

EURUSD trading steady after the speech of the ECB President Mario Draghi

 

EURUSD rose yesterday and closed at 1.3737. There officials from the United States Federal Reserve supported the cut in the Fed bond-buying program at their meeting in December. The President of the Saint Louis Federal Reserve James Bullard suggested that a small taper could be appropriate at the December meeting, because of the improvements of the job market in the US. The President of the Richmond Fed Jeffrey Lacker also highlighted the possibility of a discussion about tapering the size of the stimulus package of FED at their December meeting. The Dallas Fed President Richard Fisher warned that the cost of the 85 billion dollar asset purchase program exceeds its benefits and urged the US central bank to start tapering as soon as possible. Support for the EURUSD is seen at 1.3650 and resistance is seen at 1.3750. The HotForex Traders Board shows that 70 percent of the traders are short on the EURUSD.

 

http://blog.hotforex.com/wp-content/uploads/2013/12/EURUSD-10-December-2013.jpg

 

- See more at: http://blog.hotforex.com/eurusd-trading-steady-after-the-speech-of-the-ecb-president-mario-draghi/#sthash.VmnGciYr.dpuf

[HotForex]

EURUSD holding steady near the 2013 top level. ECB President Mario Draghi calls for banking union.

 

EURUSD rose yesterday and closed at 1.3760. The President of the European Central Bank Mario Draghi eased the concerns over the threads of low inflation in the euro area. Draghi asked the governments of the EU countries to deliver economic reforms and complete a banking union. On the economic front a report showed that the Italian GDP for the third quarter was at the previous month’s level. Another report showed that the Industrial Production month over month in Italy rose 0.5 percent in October. A similar report from France indicated that the Industrial Production month over month there dropped 0.3 percent in October. Support for the EURUSD is seen at 1.3650 and resistance is seen at 1.3785. The HotForex Traders Board shows that 70 percent are short on the EURUSD.

 

http://blog.hotforex.com/wp-content/uploads/2013/12/EURUSD-11-December-2013.jpg

 

- See more at: http://blog.hotforex.com/eurusd-holding-steady-near-the-2013-top-level-ecb-president-mario-draghi-calls-for-banking-union/#sthash.Vmo0RpAG.dpuf

[HotForex]

EURUSD trading below the 1.3800 level ahead of the US Unemployment Claims and Retails Sales data

 

EURUSD rose yesterday and closed at 1.3785. The Vice-President of the European Central Bank Vitor Constancio stated yesterday that the banks in the Eurozone have plenty of collateral. On the economic front the Consumer Price Index in Germany came out in line with the market expectations at 1.3 percent on an annual basis. In the United States the Senate Budget Committee Chairman, Patty Murray and the House Budget Committee Chairman, Paul Ryan came out with a two-year budget deal which will subject to approval by the House and the Senate. Approval of the deal will prevent the US Government from shutting down again in the coming months. Investors are now looking forward for the Retail Sales and the Unemployment Claims data due from the United States. Due to the high-impact nature of the releases there is a large possibility of volatile moves on the market at the time of the releases. Support for the EURUSD is seen at 1.3693 and resistance is seen at 1.3804. The HotForex Traders Board shows that 68 percent of the traders are short on the EURUSD.

 

http://blog.hotforex.com/wp-content/uploads/2013/12/EURUSD-12-December-2013.jpg

 

- See more at: http://blog.hotforex.com/eurusd-trading-below-the-1-3800-level-ahead-of-the-us-unemployment-claims-and-retails-sales-data/#sthash.1L2K4HNk.dpuf

[HotForex]

EURUSD testing the 1.3700 level ahead of the Producer Price Index data from the United States

 

EURUSD dropped yesterday and closed at 1.3752. The Industrial Production in the Eurozone dropped 1.1 percent in October. The European Central Bank indicated in its December monthly report that is very keen on continuing with its accommodative monetary police for a long time, because of the downside risks for the Euro area. The market witnessed mixed data from the United States yesterday, but that didn’t stop the US dollar to gain against its European counterpart. The Retails Sales in the US rose 0.7 percent month over month in November. The Business Inventories also recorded a 0.7 percent gain. A surprise to the market was the worse than expected Jobless Claims data which increased to 368K during the last week. Investors are now looking forward for the Producer Price Index month over month data due to be released later today. Support for the EURUSD is seen at 1.3693 and resistance is seen at 1.3804. The HotForex Traders Board shows that 65 percent of the traders are short on the EURUSD.

 

http://blog.hotforex.com/wp-content/uploads/2013/12/EURUSD-13-December-2013.jpg

 

- See more at: http://blog.hotforex.com/eurusd-testing-the-1-3700-level-ahead-of-the-producer-price-index-data-from-the-united-states/#sthash.rjHHSsMY.dpuf

[HotForex]

EURUSD trading near the 1.3800 level in the late European session. ECB President Mario Draghi testifies in Brussels today.

EURUSD dropped on Friday and closed at 1.3738. The European Central Bank policy member Peter Praet stated that the recovery in the Euro area remains fragile. The employment level in the Eurozone remained unchanged for a second quarter in a row indicating that there is no big improvement in the labor market. Bets that the United States Federal Reserve will taper the size of its bond-buying program are increasing. Investors are looking forward for the FOMC Meeting Minutes due on Wednesday. Later today the President of the European Central Bank Mario Draghi will deliver a testimony on the monetary policy in Brussels. Support for the EURUSD is seen at 1.3708 and resistance is seen at 1.3804. The HotForex Traders Board shows that 74 percent of the traders are short on the EURUSD.

 

http://blog.hotforex.com/wp-content/uploads/2013/12/EURUSD-16-December-2013.jpg

 

See more at: http://blog.hotforex.com/eurusd-trading-near-the-1-3800-level-in-the-late-european-session-ecb-president-mario-draghi-testifies-in-brussels-today/#sthash.TvCLw02E.dpuf

[ashleyoz]

link above helps

Thanks

[HotForex]

EURUSD trading lower ahead of the US Core CPI report.

 

EURUSD rose yesterday and closed at 1.3757. A report from France indicated that the French Flash Manufacturing Purchasing Managers Index dropped to a reading of 47.1 in December. The Flash Services PMI in France also dropped in December coming at a reading of 47.4. On the other hand the German Flash Manufacturing PMI recorded a gain in December coming at a reading of 54.2, but the Flash Services PMI dropped to a reading of 54.0. The Eurozone Flash Services and Manufacturing PMI and Services PMI came out mixed as well. The Flash Manufacturing PMI rose in December coming at a reading of 52.7 and the Flash Services PMI dropped to a reading of 51.0 in December. In the session ahead investors are looking forward for the Core CPI month over month report due from the United States. The major event for the week remains the FOMC Statement and the FOMC Press Conference due tomorrow. Support for the EURUSD is seen at 1.3708 and resistance is seen at 1.3804. The HotForex Traders Board shows that 68 percent of the traders are short on the EURUSD.

 

http://blog.hotforex.com/wp-content/uploads/2013/12/EURUSD-17-December-20131.jpg

 

https://blog.hotforex.com/eurusd-trading-lower-ahead-of-the-us-core-cpi-report/

[orni308]

EURUSD moved up a bit, but in this time of the year its better to take caution....

[HotForex]

EURUSD trading below the 1.3700 level after the US Federal Reserve scaled down its asset purchase program. US Unemployment Claims on tap.

EURUSD dropped yesterday and closed at 1.3682. The United States Federal Reserve announced that it will scale down its asset purchase program by 10 billion dollars per month starting in January. The cut will reduce the current asset purchase program to 75 billion dollars per month. The market reacted sharply to the release with the Euro dropping around 1 cent against its US counterpart. A bipartisan budget agreement is also getting prepared in the US Congress. The deal was approved by the House of Representatives last week and was also approved by the Senate yesterday. Now the bill will go the President of the United States Barack Obama for his signature. On the other side of the ocean in the Eurozone the German Ifo Business Climate came out close the to market expectation at a reading of 109.5 in December. Investors are now looking forward for the Unemployment Claims release due from the United States today. Support for the EURUSD is seen at 1.3650 and resistance is seen at 1.3730. The HotForex Traders Board shows that 63 percent of the traders are short on the EURUSD.

 

 

http://blog.hotforex.com/wp-content/uploads/2013/12/EURUSD-19-December-20131.jpg

 

 

- See more at: http://blog.hotforex.com/eurusd-trading-below-the-1-3700-level-after-the-us-federal-reserve-scaled-down-its-asset-purchase-program-us-unemployment-claims-on-tap/#sthash.fVv20SWC.dpuf

[HotForex]

The single European currency continues to lose ground on Friday. US GDP data on focus today.

 

 

EURUSD dropped yesterday and closed at 1.3660. Data released from the Eurozone revealed that the Current Account widened to 21.8 billion October. The President of the European Central Bank Mario Draghi welcomed a deal among the EU finance ministers to set up an agency and network of funds to close troubled banks in the currency union. The Unemployment Claims report from the United States revealed that the initial jobless claims rose by 10K to 379K during the last week. The Federal Reserve Bank of Philadelphia reported that the manufacturing activity in the state continued to expand modestly coming at a reading of 7 in December. Market had expected a higher level of 10. Investors are now looking forward for the Final GDP data due to be released today from the United States and the Fed Chairman nomination vote. Support for the EURUSD is seen at 1.3625 and resistance is seen at 1.3730. The HotForex Traders Board shows that 61 percent of the traders are short on the EURUSD.

 

http://blog.hotforex.com/wp-content/uploads/2013/12/EURUSD-20-December-2013.jpg

 

See more at: http://blog.hotforex.com/the-single-european-currency-continues-to-lose-ground-on-friday-us-gdp-data-on-focus-today/#sthash.NKK8JDEA.dpuf

[HotForex]

EURUSD trading higher ahead of the US Trade Balance data

 

EURUSD rose yesterday and closed at 1.3627. The ISM Non-Manufacturing Purchasing Managers Index in the United States dropped to a reading of 53 in December. The Consumer Price Index in Germany remained steady at 0.4 percent in December. An official report released today showed that the Retail Sales month over month in Germany recorded a gain of 1.5 percent in November. The German Unemployment Change also released today came out better than the market expectation at a reading of -15K in November. Investors are now looking forward for the Trade Balance data due from the United States later today. Support for the EURUSD is seen at 1.3576 and resistance is seen at 1.3676. The HotForex Traders Board shows that 58 percent of the traders are short on the EURUSD.

 

http://blog.hotforex.com/wp-content/uploads/2014/01/EURUSD-07-January-2014.jpg

 

- See more at: http://blog.hotforex.com/eurusd-trading-higher-ahead-of-the-us-trade-balance-data/#sthash.wv6deQ0c.dpuf

[HotForex]

EURUSD trading below the 1.36 mark ahead of the ADP Non-Farm Employment Change data due from the United States. FOMC Meeting Minutes on focus.

EURUSD dropped yesterday and closed at 1.3614. The President of the San Francisco Federal Reserve John Williams highlighted the possibility of massive cut in FED’s bond-buying program and eventual elimination of it in the year ahead. On the other hand the President of the Boston Fed Eric Rosengren stated that he is comfortable with the current decision of the US central bank to taper 10 billion dollars per month, but also warned that FED should not take any “dramatic steps” to reduce the size of the asset purchase program. In the Eurozone the Consumer Price Index dropped 0.8 percent year over year in December. The Unemployment Rate remained at 12.1 percent in December according to data that was released today. Investors are looking forward for the ADP Non-Farm Employment Change data and the FOMC Meeting Minutes due later today. Support for the EURUSD is seen at 1.3576 and resistance is seen at 1.3676. The HotForex Traders Board shows that the long on the short positions of the clients are even.

 

http://blog.hotforex.com/wp-content/uploads/2014/01/EURUSD-08-January-2014.jpg

 

- See more at: http://blog.hotforex.com/eurusd-trading-below-the-1-36-mark-ahead-of-the-adp-non-farm-employment-change-data-due-from-the-united-states-fomc-meeting-minutes-on-focus/#sthash.Y65l93TG.dpuf

[HotForex]

EURUSD trading lower ahead of the Non-Farm Payrolls report from the United States

 

EURUSD rose yesterday and closed at 1.3607. The European Central Bank left its benchmark interest rate unchanged at 0.25 percent. In the United States the President of the Kansas City Federal Reserve Bank Esther George expressed her concerns on the impact of the low interest rates on the economy. The Unemployment Claims data released yesterday from the United States came out better than the market expectation at a reading of 330K during the last week. Today is another busy day for the FX Markets with the Non-Farm Payrolls and the Unemployment rate reports due from the United States. Investors should be aware that there is a potential of volatile moves on the market during the time of the releases. Support for the EURUSD is seen at 1.3566 and resistance is seen at 1.3676. The HotForex Traders Board shows that 53 percent of the traders are short on the EURUSD.

 

 

http://blog.hotforex.com/wp-content/uploads/2014/01/EURUSD-10-January-2014.jpg

 

- See more at: http://blog.hotforex.com/eurusd-trading-lower-ahead-of-the-non-farm-payrolls-report-from-the-united-states/#sthash.YWRNyMc4.dpuf

[HotForex]

US Banks are closed due to the observance of the Presidents Day. Eyes on the Eurogroup Meetings.

 

EURUSD rose on Friday and closed at 1.3691. The preliminary GDP data from the Eurozone surprised the markets and rose at 0.5 percent on an annual basis in the 4th quarter of 2013. Germany and France also reported better than expected GDP data for the 4th quarter of 2013. A survey from the United States revealed that economists projected that the US economy growth will slow down to an annual rate of 2.0 percent at the current quarter. On the other hand the report indicated a forecast that shows a growth to 3.0 percent in the next quarter prior to the previous forecast of 2.9 percent.

 

The week on the FX market will be busy with high impact releases from the central banks across the globe. The Economic Calendar for the session ahead is flat. The US banks will be closed due to the observance of the Presidents Day in the United States.

 

Support for the EURUSD is seen at 1.3614 and resistance is seen at 1.3722. The HotForex Traders Board shows that 70 percent of the traders are short on the EURUSD.

 

http://blog.hotforex.com/wp-content/uploads/2014/02/EURUSD-17-February-2014.jpg

 

- See more at: http://blog.hotforex.com/us-banks-are-closed-due-to-the-observance-of-the-presidents-day-eyes-on-the-eurogroup-meetings/#sthash.qqTemIbk.dpuf

[HotForex]

EURUSD trading higher after better than expected data from Germany

 

EURUSD rose on Friday and closed at 1.3737. The President of the European Central Bank confirmed his stance to take proper measures if needed in case the inflation in the Eurozone continues to be below the target of the central bank. He also added that the ECB meeting in March will be the key point where the bank has to decide if there is going to be any additional stimulus to support the nascent recovery in the region. On the other side of the ocean the President of the United States Federal Reserve in Saint Louis James Bullard projected continuation of the tapering of the asset purchase program of Fed. Bullard blamed the unusual bad weather for the soft economic data that’s flooding the markets lately.

 

A report from Germany today indicated that the German Ifo Business Climate rose unexpectedly to a reading of 111.3 in February. Separate report indicated that the Consumer Price Index in the Eurozone rose 0.8 percent on an annual basis in January.

 

Support for the EURUSD is seen at 1.3680 and resistance is seen at 1.3770. The HotForex Traders Board shows that 73 percent of the traders are short on the EURUSD.

 

http://blog.hotforex.com/wp-content/uploads/2014/02/EURUSD-24-February-2014-0.jpg

 

- See more at: http://blog.hotforex.com/eurusd-trading-higher-after-better-than-expected-data-from-germany/#sthash.KYNoEIwE.dpuf

[HotForex]

EURUSD opened with a gap lower due to the Ukraine crisis. ECB President Draghi speaks

 

EURUSD rose on Friday and closed at 1.3801. The United States dollar came under pressure after the revised preliminary GDP data for the fourth quarter of 2013 came out worse than the market expectation at 2.4 percent. The President of the United States Federal Reserve in St. Louis James Bullard stated that the weakness of the recent economic reports is a result of the bad weather in the US and should not dampen optimism of the recovery of the economy for the rest of the year. The Consumer Sentiment Index in the United States rose to a reading of 81.6 in February.

 

The weak ahead is going to be busy for the financial markets with the series of high impact releases scheduled. Investors are looking forward for the ECB rate decision which has been a major concern during the recent weeks. The Non-Farm Payrolls report from the United States is also on focus. In the session ahead investors are awaiting the speech of the ECB President Mario Draghi in Brussels and the ISM Manufacturing Purchasing Managers Index due from the United States.

 

Support for the EURUSD is seen at 1.3996 and resistance is seen at 1.3823. The HotForex Traders Board shows that 73 percent of the traders are short on the EURUSD.

http://blog.hotforex.com/wp-content/uploads/2014/03/EURUSD-03-March-2014.jpg

- See more at: http://blog.hotforex.com/eurusd-opened-with-a-gap-lower-due-to-the-ukraine-crisis-ecb-president-draghi-speaks-today/#sthash.U9yEySKv.dpuf

[HotForex]

EURUSD trading steady after the sharp drop yesterday - www.hotforex.com

 

EURUSD dropped yesterday and closed at 1.3734. Negative sentiment on the market was fueled by the situation in Ukraine and the IMF chief Christine Lagarde. Lagarde stated that she sees 15-20 percent risk of extended low inflation in the Eurozone. The President of the European Central Bank Mario Draghi also stated that the persistent low inflation could pose a risk to the inflation expectations. The ISM Manufacturing Index in the United States rose to a reading of 53.2 in February.

 

Support for the EURUSD is seen at 1.3696 and resistance is seen at 1.3823. The HotForex Traders Board shows that 70 percent of the traders are short on the EURUSD.

 

http://blog.hotforex.com/wp-content/uploads/2014/03/EURUSD-04-March-2014.jpg

 

- See more at: http://blog.hotforex.com/eurusd-trading-steady-after-the-sharp-drop-yesterday/#sthash.DPuFCRow.dpuf

[HotForex]

EURUSD holding above the 1.3700 mark. Bundesbank President Jens Weidmann speaks today.

 

EURUSD dropped on Friday and closed at 1.3693. The Building Permits in the United States rose to 1.08 million units. The President of the United States Federal Reserve in St. Louis James Bullard projected inflation and employment rate in the US to accelerate faster in the near future. In the Eurozone the ECB Executive Board Member Benoit Coeure stated that the central bank remains serious about its statements on forward guidance and interest rates. Coeure also highlighted his expectations for a prolonged period of time of low interest rates in the EU.

 

Investors are now awaiting the speech of the Bundesbank President Jens Weidmann in Frankfurt.

 

Support for the EURUSD is seen at 1.3650 and resistance is seen at 1.3773.

 

Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

 

Read more: https://blog.hotforex.com/eurusd-holding-above-the-1-3700-mark-bundesbank-president-jens-weidmann-speaks-today/

[HotForex]

Markets subdued ahead of Fed’s policy meeting and Scottish referendum

 

Currency markets consolidated the last 24-hours, as traders feared to position themselves ahead of the FED’s policy meeting to be held today and tomorrow, and the Scottish referendum to be held on Thursday.

 

The FED’s policy meeting is expected with increased interest, as markets expect the FED to decide interest rate hike or at least provide a forward guidance for doing that.

 

The USD traded near its recent established highs against a basked of currencies, despite yesterday’s weak industrial and manufacturing production released data. EUR/USD is still supported above 1.29; a level established the past 2-weeks. On the other hand USD/JPY is pushing towards its last week’s highs this morning, trading at 107.27, only 10 pips short of the 6-year high established on Friday.

 

Spot XAU/USD traded yesterday as low as 1225.60 $/ounce, a level not seen since January 2014. The precious metal is in a downtrend without a corrective move since early July, down from 1344.91 $/ounce; a -9% move against the U.S. Dollar. Next target for the gold bears is at 1181.98$/ounce a level touched twice last year.

 

 

Economic calendar today included inflation figures for the U.K. that will be released at 08:30 GMT and German ZEW Survey on Economic Sentiment to be released at 09:00 GMT.

 

Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

[HotForex]

U.S. Dollar hovering near its highs – Gold nearing 1-year lows

 

In a quite Monday kick off for the FOREX markets the U.S. Dollar remains near its highs against a basket of major currencies. The dollar is still supported by expectations that U.S. Federal Reserve will raise its base interest rates sooner than later and that as soon as it does it will do so with increased pace.

 

EUR/USD touched a new 14-month low on Friday night, trading as low as 1.2823 before recouping this morning to trade at 1.2865. The pair still looks bearish with support levels remaining intact at 1.2837 and 1.2755 thereafter.

 

GBP/USD surprised all traders expecting to move to the North on the back of the confirmed “no” vote on Friday. The pair instead closed Friday near it’s Thursday’s opening after recording a spike, as it traded up to 1.6533 just after the official referendum result was announced. Concerns on further political instability within the U.K. ahead of next May’s general election weighted on traders’ decision to sell the pound against major counter currencies.

 

AUD/USD continued its recent downtrend on Friday and this morning too. The pair is now trading just above 0.89 which has been the first intermediate major support level (May’s2014 low) ahead of yearly lows down to 0.8659. The pair however technically looks way oversold on the daily chart and it might need a consolidation period before a break lower is accomplished.

 

Gold sellers have also dominated the precious metal market with spot Gold trading this morning as low as 1208 $/ounce, and nearing 5-year lows at 1182$/ounce recorded earlier this year and in mid 2013s. Gold which is a non-bearing interest asset has been heavily wounded by increased expectations for a FED interest rate hike, having lost since 10th of June -10.50% against the U.S. Dollar.

 

 

Having cleared an eventful week that included the FOMC decision, ECB stimulus and Scottish referendum the markets are set to focus on important fundamental data to be released this week. Today economic calendar is free of high importance data, but important data such as German and U.S. PMIs will be coming into the picture from tomorrow onwards.

 

Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

[HotForex]

Euro on the focus today as Eurozone Inflation and German Unemployment figures are due

 

After a quite kick start in the week for the FOREX markets, all the focus has been concentrated in the Euro and the related data to be released later today.

 

EUR/USD attempted a bounce from its recent lows yesterday, trading as high as 1.2717 but it slowly retreated back below 1.27. The Euro is still weighted by increased uncertainty surrounding a proposed referendum in Catalonia, and the weak data stemming from the Eurozone. Yesterday German inflation was steady at 0.8%, with the focus now turned to Eurozone data. If the data to be released later this morning, appear weaker than expected for the Euro, we would expect a break below the 2-years low support level at 1.2659, and to open the way towards the next technical support level May’s 2012 low at 1.2286.

 

 

German unemployment data for September will be released at 07:55 GMT, and Eurozone inflation September data at 09:00 GMT. Later this afternoon Canadian GDP figures will be announced for the month of July at 12:30 GMT, and U.S. consumer confidence for September at 14:00 GMT.

 

All the data of course might give a small impact on the markets if the traders fear of aggressive positioning ahead of the U.S. Non Farm Payrolls that will be released on Friday.

 

Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.