EURUSD rose yesterday and closed at 1.3640. The United States dollar lost strength against its European counterpart after the FOMC Meeting Minutes failed to give a clear outlook of when Fed is planning to rise the interest rates in the largest economy of the world. On the other side the minutes revealed that the US Central bank is planning to end its QE program by October if the economy shows signs of recovery during the 2nd quarter of 2014. The President of the European Central Bank Mario Draghi stated during his speech in London that the risks to price stability in the Eurozone still persists and also reiterated his concerns on the strength of the single European currency.
Investors are now looking forward for the Unemployment Claims due from the United States.
Support for the EURUSD is seen at 1.3580 and resistance is seen at 1.3647.
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 losing its yesterdays gains during the European session. US Unemployment Claims on tap.
No comments:
Post a Comment