EURUSD rose on Friday and closed at 1.3633. Despite the bad GDP report for the first quarter of 2014 the President of the Federal Reserve in Philadelphia Charles Plosser projected a growth around 3.0 percent for the rest of the year and an expectation of a of the unemployment rate below 6.0 percent.
Data released today showed that the German CPI dropped to a level of -0.1 percent in May fuelled the speculations that ECB will act on its meeting on Thursday.
The week ahead is going to be very busy with Bank rate statements from several banks and the NFP release from the United States.
Support for the EURUSD is seen at 1.3590 and resistance is seen at 1.3649.
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.
EURUSD trading sideways on Monday. Busy week for the FX Markets ahead.
No comments:
Post a Comment