EURUSD rose yesterday and closed at 1.3390. The German ZEW Economic Sentiment index rose yesterday to a reading of 48.2 in February. The ZEW Economic Sentiment index in the Eurozone climbed to a reading of 42.4 in February. The Foreign Minister of France Laurent Fabius stated that the French government would likely cut its growth forecast for the economy to 0.2-0.3 percent in 2013, from 0.8 percent estimated earlier. Later today we have the German 10 year Bond Auction due. Investors are focused on the FOMC Meeting Minutes due from the United States later today. Support for the EURUSD is seen at 1.3332 and resistance is seen at 1.3434. The HotForex Traders Board shows that 55 percent of the traders are short on the EURUSD.
GBPUSD
The Cable dropped yesterday and closed at 1.5425. During the releases from the United Kingdom today the pair made a significant drop of about 100 pips. The Claimant Count Change from the UK came out better than the market expectation at a reading of -12.5K. Trading trends on the pair for the rest of the day are going to be determined by the releases from the United States. Support for the GBPUSD is seen at 1.5292 and resistance is seen at 1.5450. The HotForex Traders Board shows that 87 percent of the traders are long on the GBPUSD.
EURUSD trading higher on positive data from the Eurozone. FOMC Meeting Minutes on tap.
No comments:
Post a Comment