EUR USD News
The EUR market increased +0.98% against the USD on Wednesday. Yesterday EUR USD market closed at 1.1105. Today market will range 1.1088 – 1.1110.
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Today the EUR / USD started with -0.10% in Asia, down from yesterday close. The EUR USD is trading now at 1.1094
Euro fell on Thursday away from a three-week high as the dollar pared the losses while investors favor the British pound after the BoE meeting today.
Today EUR USD last traded at 1.1094, down from the opening price of 1.1099, with an intraday low at 1.1088.
Euro’s dip against the dollar comes after the greenback pared the losses, triggering profit-taking operations after hitting a three-week high, specially as sterling surges against main rivals.
Earlier EUR USD News data didn’t help the euro hold its gains, as the Eurozone’s unemployment rate rose in September, matching expectations. Markets await the official U.S. payrolls report tomorrow, specially after the weak showing of the private sector report, and as unemployment claims rose more than expected.
Daily Support and Resistance:
Daily Camarilla Forex Technical analysis shows that, the EUR/USD pair may find the immediate support at 1.1098 below which 1.1092 and 1.1085 could be tested. On the other side the immediate resistance 1.1112 and may go for further test 1.1118. A break beyond the last, doors will open for a test of 1.1125
Today EUR Investors will look forward to the following economic data (GMT+3):
- EUR – Spanish Services PMI at 11.15 AM
- EUR – Italian Services PMI at 11.45 AM
- EUR – French Final Services PMI at 11.55 AM
- EUR – German Final Services PMI at 11.55 AM
- EUR – Final Services PMI at 12.00 PM
- EUR – Producer Price Index at 01.00 PM
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GBP USD News
GBP increased +1.23% against the USD and Yesterday GBP / USD market closed at 1. 2462.
Today the GBP / USD started with +0.12% down from yesterday closes. The GBP / USD is trading now at 1.2477.
Sterling rose on Thursday to a four-week high after the Bank of England’s meeting, at which it held interest rates and policy steady and signaled no more cuts to come, which underpinned the pound.
GBP/USD last traded at 1.2477, up from the opening of 1.2462 with an intraday low at 1.2164, and a four-week high at 1.2496.
Bank of England kept monetary policy and interest rates unchanged at their current record low of 0.25%, as well as keeping its assets buying program unchanged at 435 billion pounds.
BoE said the economy has benefited from the steep drop of the pound after the Brexit vote, hitting three-decade lows, which buoyed exports, while inflation rose as import prices rose.
The bank forecast higher inflation rates in the coming period, and for GDP to grow moderately, which pushed the pound higher today amid expectations the BoE won’t slash rates again.
Daily Support and Resistance:
Daily Camarilla Forex Technical analysis shows that GBP/USD pair may find the immediate support at 1.2443 below which 1.2425 and 1.2406 could be tested. On the other side the immediate resistance 1.2481. A break beyond the last, doors will open for a test of 1.2499 and from there to 1.2518.
Upcoming Important Economic News: (GMT +3)
- MPC Member Forbes Speaks at 05.45 PM