Showing posts with label USD. Show all posts
Showing posts with label USD. Show all posts
Tuesday, March 17, 2015
Monday, March 16, 2015
GBP/USD further weakness ahead
“The anticipated GBP weakness exceeded our expectation as it plunged to a
low of 1.4699. Strong impulsive downward momentum suggests further
weakness for today.”
“A move below 1.4699 could lead to a quick drop to 1.4650.”
“Strong resistance is at 1.4810.”
“A move below 1.4699 could lead to a quick drop to 1.4650.”
“Strong resistance is at 1.4810.”
EUR/USD inching higher, near 1.0530
EUR/USD bounced off 1.0460
The pair has managed to revert a negative start after opening around the 1.0460 region in Asia, recovering some ground along with the offered tone surrounding the USD.
Empty docket in the euro area today will leave the attention to the US releases, with Capacity Utilization, Industrial Production and the Housing Market index gauged by NAHB as the main highlights.
Despite no major announcements are expected, market participants would pay attention to Draghi’s speech tonight in Frankfurt about “The Future of the Finance Industry – Between Growth and Regulation”; followed by a speech by ECB’s Exec Board Member S.Lautenschlager on “Reality Check – How to Foster Growth in the New Regulatory Landscape”, also in Frankfurt.
EUR/USD levels to consider
The pair is advancing 0.19% at 1.0516 and a breakdown of 1.0457 (12-year low Mar.16) would expose 1.0335 (2003 low Jan.2) and then 1.0300 (psychological level). On the flip side, the initial up-barrier lines up at 1.0635 (high Mar.13) ahead of 1.0683 (high Mar.12) followed by 1.0718 (high Mar.11).
The pair has managed to revert a negative start after opening around the 1.0460 region in Asia, recovering some ground along with the offered tone surrounding the USD.
Empty docket in the euro area today will leave the attention to the US releases, with Capacity Utilization, Industrial Production and the Housing Market index gauged by NAHB as the main highlights.
Despite no major announcements are expected, market participants would pay attention to Draghi’s speech tonight in Frankfurt about “The Future of the Finance Industry – Between Growth and Regulation”; followed by a speech by ECB’s Exec Board Member S.Lautenschlager on “Reality Check – How to Foster Growth in the New Regulatory Landscape”, also in Frankfurt.
EUR/USD levels to consider
The pair is advancing 0.19% at 1.0516 and a breakdown of 1.0457 (12-year low Mar.16) would expose 1.0335 (2003 low Jan.2) and then 1.0300 (psychological level). On the flip side, the initial up-barrier lines up at 1.0635 (high Mar.13) ahead of 1.0683 (high Mar.12) followed by 1.0718 (high Mar.11).
Wednesday, March 11, 2015
EUR/USD slumps to lowest since Feb 2003 below 1.05
EUR/USD slides from 1.0514 levels
The EUR/USD now trades at 1.0509 levels, recording a loss of -0.35% on the day, having slipped fresh multi-year lows at 1.0496 levels few minutes ago. EUR/USD tumbled to fresh twelve year low and heads lower within reach of parity as the US dollar continues to be heavily bid across the board. Diverging monetary policy outlooks between the US and the Europe keeps the reserve currency boosted against the euro.
The US dollar index which measures the relative strength of the greenback against a basket of six major currencies jumped to fresh twelve year highs at 100.05 and now trades at 99.96 levels, recording a 0.31% gain on the day.
Meanwhile, traders continue to closely monitor Greek negotiations ahead of its EUR 350bn to IMF tomorrow. Also, a host of US data including retail sales and unemployment claims numbers may provide fresh incentives for the main currency pair.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.0553 (Today’s High) levels, above which gains could be extended to 1.0600 levels. On the flip side, support is seen at 1.0496 (Today’s Low) levels, below which it could extend losses to 1.0450 (Feb 2003) levels.
The EUR/USD now trades at 1.0509 levels, recording a loss of -0.35% on the day, having slipped fresh multi-year lows at 1.0496 levels few minutes ago. EUR/USD tumbled to fresh twelve year low and heads lower within reach of parity as the US dollar continues to be heavily bid across the board. Diverging monetary policy outlooks between the US and the Europe keeps the reserve currency boosted against the euro.
The US dollar index which measures the relative strength of the greenback against a basket of six major currencies jumped to fresh twelve year highs at 100.05 and now trades at 99.96 levels, recording a 0.31% gain on the day.
Meanwhile, traders continue to closely monitor Greek negotiations ahead of its EUR 350bn to IMF tomorrow. Also, a host of US data including retail sales and unemployment claims numbers may provide fresh incentives for the main currency pair.
EUR/USD Technical Levels
The pair has an immediate resistance at 1.0553 (Today’s High) levels, above which gains could be extended to 1.0600 levels. On the flip side, support is seen at 1.0496 (Today’s Low) levels, below which it could extend losses to 1.0450 (Feb 2003) levels.
EUR/USD decline accelerates further
“The EUR remains under pressure as the ECB’s bond buying programme boosts liquidity and pushes down European yields”.
“EUR/USD declined another 1.5 figure yesterday and dropped below 1.07 and while the cross looks increasingly oversold both technically and valuation wise, we could see further USD buying ahead of the FOMC meeting next week as the market positions for a more hawkish Fed”.
“We target EUR/USD at 1.05 in 6M but we stress that risks are tilted to the downside relative to our forecast”.
“EUR/USD declined another 1.5 figure yesterday and dropped below 1.07 and while the cross looks increasingly oversold both technically and valuation wise, we could see further USD buying ahead of the FOMC meeting next week as the market positions for a more hawkish Fed”.
“We target EUR/USD at 1.05 in 6M but we stress that risks are tilted to the downside relative to our forecast”.
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