Daily EURUSD & GBPUSD Analysis by HotForex

[Stan]

EURUSD trading higher ahead of the US Trade Balance and Unemployment Claims data

EURUSD rose yesterday and closed at 1.3484. The US dollar lost strength after the FED Vice-Chairman Janet Yellen stated that the economy and the labor market in the United States are performing far away from their potential. The Industrial Production in the Eurozone dropped 0.5 percent month over month. The Bundesbank President and ECB Governing Council Jens Weidmann stated the low interest rates cannot be permanent and the government must not lean back only on low interest rates. Investors are now looking forward for the US Trade Balance and Unemployment claims data due later today. Support for the EURUSD is seen at 1.3373 and resistance is seen at 1.3487. The HotForex Traders Board shows that 59 percent of the traders are short on the EURUSD.




GBPUSD

The Cable rose yesterday and closed at 1.6053. The Governor of Bank of England Mark Carney stated that the economic recovery in the United Kingdom has finally started and that the MPC expects the 7 percent unemployment target to be reached earlier than it did in August. The jobless claims in the United Kingdom dropped by 41.7K in October. The Unemployment Rate came out in line with the market expectation at 7.6 percent. Investors are looking forward for the Retail Sales month over month data due to be released today. Support for the GBPUSD is seen at 1.5960 and resistance is seen at 1.6055. The HotForex Traders Board shows that 69 percent of the traders are short on the GBPUSD.



- See more at: http://blog.hotforex.com/eurusd-tra...nemployment-claims-data/#sthash.LjapBHBB.dpuf

 

[Stan]

EURUSD stays below the 1.35 level as ECB report indicated that the Eurozone might face long period of low inflation. Light economic calendar in the session ahead.

EURUSD dropped yesterday and closed at 1.3458. The European Central Bank indicated in its monthly report that the currency union may face a long period of low inflation. The ECB also showed a willingness to continue with the current monetary policy measures for as long as necessary to support the recovery of the Eurozone. The Unemployment Claims in the United States dropped less than the market expectation last week coming at a reading of 339K. During her testimony the Vice-Chairman of the United States Federal Reserve Janet Yellen expressed her commitment to promote a strong economic recovery in the US. Investors are focused on the result of the ECOFIN Meetings taking place today in Brussels. Support for the EURUSD is seen at 1.3373 and resistance is seen at 1.3487. The HotForex Traders Board shows that 59 percent of the traders are short on the EURUSD.



- See more at:http://blog.hotforex.com/eurusd-sta...ar-in-the-session-ahead/#sthash.VT29BT6N.dpuf

 

[Stan]

Eurozone’s current account lower than the market expectation. FOMC Member William Dudley speaks later today.

EURUSD rose on Friday and closed at 1.3494. The US dollar continued to be pressurized by the incoming FED chief Janet Yellen. She continued with her dovish comments about the easy monetary policy of the US central bank. The Industrial Production in the United States dropped 0.1 percent month over month in October. The Current Account data released today from the Eurozone came out worse than the market expectation at a reading of 13.7B in September. Support for the EURUSD is seen at 1.3427 and resistance is seen at 1.3515. The HotForex Traders Board shows that 65 percent of the traders are short on the EURUSD.



- See more at:http://blog.hotforex.com/eurozone’s...dley-speaks-later-today/#sthash.qRvMfFPa.dpuf

 

[Stan]

EURUSD trading lower after the FOMC Meeting Minutes indicate possible stimulus measure cut in the one of its next meetings. US Unemployment Claims data on focus of the investors today.

EURUSD dropped yesterday and closed at 1.3437. Information that the European Central Bank may adjust the deposit interest rate to negative for a first time came on the market and pushed the pair lower. According to Bloomberg Policy makers would reduce the rate for commercial lenders who park excess cash at the ECB to minus 0.1 percent from zero, said the people who declined to be identified because the talks aren’t public. During its meeting minutes the Federal Open Market Committee hinted that it may reduce the size of its bond-buying program in one of its next meetings. On the economic front the Existing Home Sales in the United States dropped to a reading of 5.12M in October. The Retail Sales month over month recorded a gain of 0.2 percent in October. Investors are now looking for the PPI month over month and the Unemployment Claims releases due from the United States later today. Support for the EURUSD is seen at 1.3396 and resistance is seen at 1.3498. The HotForex Traders Board shows that 51 percent of the traders are short on the EURUSD.

- See more at: http://blog.hotforex.com/eurusd-tra...-of-the-investors-today/#sthash.BIfrZnPa.dpuf

 

[Stan]

EURUSD trading higher as Mario Draghi cooled off the news for negative rates

EURUSD rose yesterday and closed at 1.3480. The President of the European Central Bank Mario Draghi cooled off the speculation for a negative deposit rates which flooded the markets a couple of days ago. The Manufacturing Purchasing Managers Index in the Eurozone rose to a reading of 51.5 in November. On the other hand the Consumer Confidence in the Eurozone dropped to a reading of -15.4 in November. In the United States the President of the Saint Louis Federal Reserve James Bullard suggested that the US central bank should continue with its stimulus program until the inflation target is achieved. In the economic news today the German Ifo Business Climate came out better than the analysts expectation at a reading of 109.3 in November. Support for the EURUSD is seen at 1.3437 and resistance is seen at 1.3536. The HotForex Traders Board shows that 63 percent of the traders are short on the EURUSD.

- See more at:http://blog.hotforex.com/eurusd-tra...news-for-negative-rates/#sthash.TrygpvB8.dpuf

 

[Stan]

EURUSD recovered its losses from yesterday. Light Economic Calendar in the session ahead.

EURUSD dropped yesterday and closed at 1.3541. The Spanish Manufacturing Purchasing Managers Index dropped to a reading of 48.6 in November. In Italy the Manufacturing Purchasing Managers Index came out in line with the market expectations at a reading of 51.4 in November. The Moody’s Investors Service upgraded the credit rating of Greece to Caa3 from C with a stable outlook. Fitch Ratings confirmed the B- credit rating of the country. The United States dollar gained strength against its European counterpart after stronger than expected ISM Manufacturing PMI data released from the United States. The ISM Manufacturing PMI came out at a reading of 57.3 in November. Support for the EURUSD is seen at 1.3520 and resistance is seen at 1.3620. The HotForex Traders Board shows that 63 percent of the traders are short on the EURUSD.



- See more at:http://blog.hotforex.com/eurusd-rec...ar-in-the-session-ahead/#sthash.hCrkRqI5.dpuf

 

[Stan]

EURUSD holding just below the 1.3600 level ahead of the ADP Non-Farm Employment Change data due from the United States.

EURUSD rose yesterday and closed at 1.3588.The unemployment rate in Spain unexpectedly dropped by 2,475 in November surprising the markets. Yesterday the European Union Economic and Monetary Affairs commissioner Olli Rehn stated that the recovery in the euro area is still fragile. He also added that France needs time to improve its growth and employment and has to implement a few steps before seeing the potential results. He also added that Italy is failing to cut debt quickly enough. On the other hand the Italian Prime Minister Enrico Letta criticized Rehn’s views about Italy and stressed that the Italian public accounts are in order. Investors are now looking forward for the ADP Non-Farm Employment Change and the New Home Sales data due from the United States later today. Support for the EURUSD is seen at 1.3520 and resistance is seen at 1.3620. The HotForex Traders Board shows that 65 percent of the traders are short on the EURUSD.



- See more at: http://blog.hotforex.com/eurusd-hol...-from-the-united-states/#sthash.RaRB4Gxd.dpuf

 

[Stan]

EURUSD trading higher ahead of the ECB rate decision. US Unemployment Claims and GDP data on tap.

EURUSD rose yesterday and closed at 1.3592. The Gross Domestic Product in the Eurozone came out in line with the market expectation at 0.1 percent in the third quarter of 2013. The Retail Sales month over month dropped 0.2 percent in October. In the United States the ADP Non-Farm Payrolls report indicated that the private sector created 215,000 jobs in November. The New Home Sales recorded a gain as well surprising the markets coming at a reading of 444K. The Trade Balance in the US came in line with the market expectations at 40.6 billion. Investors are now looking forward for the ECB Rate decision and the ECB Press Conference. Another series of high impact data is due from the United States as well including the Unemployment Claims and the Preliminary Gross Domestic Product quarter over quarter releases. Investors should be fully aware of the potential high volatility on the market during the time of the economical releases. Support for the EURUSD is seen at 1.3540 and resistance is seen at 1.3633. The HotForex Traders Board shows that 68 percent of the traders are short on the EURUSD.





GBPUSD

The Cable dropped yesterday and closed at 1.6381. The Services Purchasing Managers Index in the United Kingdom dropped to a reading of 60.0 in November. Investors are now looking forward for the series of high impact data due from the UK today including the MPC Rate Statement, the Official Bank Rate, the Asset Purchase Facility and the Autumn Forecast Statement. We are expecting to witness high volatility on the market during the time of the events and investors should be fully aware of it. Support for the GBPUSD is seen at 1.6297 and resistance is seen at 1.6433. The HotForex Traders Board shows that 76 percent of the traders are short on the GBPUSD.



- See more at: http://blog.hotforex.com/eurusd-tra...ims-and-gdp-data-on-tap/#sthash.J3gw4ZJS.dpuf

 

[Stan]

EURUSD trading near the session highs ahead of the US Non-Farm Payrolls report

EURUSD rose yesterday and closed at 1.3665. The European Central Bank left the benchmark interest rate unchanged at 0.25 percent. The President of the European Central Bank Mario Draghi stated that ECB is ready to add new measures to stimulate the recovery in the Euro area, but didn’t mentioned any specific measures that will be taken in the future. The Finance Minister of Germany Wolfgang Schaeuble supported the European Central Bank stating that the bank has made progress in its efforts to maintain price stability and a responsible monetary policy. The Unemployment Claims in the United States came out better than expected, but the release was overshadowed by the ECB decision. Investors are now looking forward for the Non-Farm Payrolls report due from the United States later today. Investors should be fully aware of the potential high volatility on the market during the time of the release. Support for the EURUSD is seen at 1.3579 and resistance is seen at 1.3675. The HotForex Traders Board shows that 75 percent of the traders are short on the EURUSD.





- See more at:http://blog.hotforex.com/eurusd-tra...on-farm-payrolls-report/#sthash.vpCEPosS.dpuf

 

[Stan]

EURUSD trading steady above the 1.3700 level. FOMC Member James Bullard speaks later today.

EURUSD rose on Friday and closed at 1.3704. The US dollar lost strength against its European counterpart after the President of the United States Federal Reserve in Chicago Charles Evens stated that he would like to see a few more job reports like the one in November in order to support a cut of the bond-buying program of FED. A report showed that the unemployment rate in the US dropped to a level of 7.0 percent in November. Another official report showed that the Non-Farm Payrolls in the country rose to a reading of 203,000 in November. In the Eurozone the Factory Orders in Germany declined more than the market expectation to a reading of 2.2 percent in October. During the weekend the plan of the German Chancellor Angela Merkel to rule with the centre-left Social Democrats failed after the youth’s section of the party voted “NO” to her coalition deal. Later in the session we have the speech from the FOMC Member James Bullard due on the Economic Calendar. Investors should be prepared for a potential volatility on the market caused by his comments. Support for the EURUSD is seen at 1.3651 and resistance is seen at 1.3727. The HotForex Traders Board shows that 72 percent of the traders are short on the EURUSD.



- See more at: http://blog.hotforex.com/eurusd-tra...lard-speaks-later-today/#sthash.kOfCbKu5.dpuf

 

[Stan]

EURUSD trading steady after the speech of the ECB President Mario Draghi

EURUSD rose yesterday and closed at 1.3737. There officials from the United States Federal Reserve supported the cut in the Fed bond-buying program at their meeting in December. The President of the Saint Louis Federal Reserve James Bullard suggested that a small taper could be appropriate at the December meeting, because of the improvements of the job market in the US. The President of the Richmond Fed Jeffrey Lacker also highlighted the possibility of a discussion about tapering the size of the stimulus package of FED at their December meeting. The Dallas Fed President Richard Fisher warned that the cost of the 85 billion dollar asset purchase program exceeds its benefits and urged the US central bank to start tapering as soon as possible. Support for the EURUSD is seen at 1.3650 and resistance is seen at 1.3750. The HotForex Traders Board shows that 70 percent of the traders are short on the EURUSD.



- See more at: http://blog.hotforex.com/eurusd-tra...-president-mario-draghi/#sthash.VmnGciYr.dpuf

 

[Stan]

EURUSD trading below the 1.3800 level ahead of the US Unemployment Claims and Retails Sales data

EURUSD rose yesterday and closed at 1.3785. The Vice-President of the European Central Bank Vitor Constancio stated yesterday that the banks in the Eurozone have plenty of collateral. On the economic front the Consumer Price Index in Germany came out in line with the market expectations at 1.3 percent on an annual basis. In the United States the Senate Budget Committee Chairman, Patty Murray and the House Budget Committee Chairman, Paul Ryan came out with a two-year budget deal which will subject to approval by the House and the Senate. Approval of the deal will prevent the US Government from shutting down again in the coming months. Investors are now looking forward for the Retail Sales and the Unemployment Claims data due from the United States. Due to the high-impact nature of the releases there is a large possibility of volatile moves on the market at the time of the releases. Support for the EURUSD is seen at 1.3693 and resistance is seen at 1.3804. The HotForex Traders Board shows that 68 percent of the traders are short on the EURUSD.



- See more at:http://blog.hotforex.com/eurusd-tra...-and-retails-sales-data/#sthash.bSgSvZxZ.dpuf

 

[Stan]

EURUSD trading near the 1.3800 level in the late European session. ECB President Mario Draghi testifies in Brussels today.

EURUSD dropped on Friday and closed at 1.3738. The European Central Bank policy member Peter Praet stated that the recovery in the Euro area remains fragile. The employment level in the Eurozone remained unchanged for a second quarter in a row indicating that there is no big improvement in the labor market. Bets that the United States Federal Reserve will taper the size of its bond-buying program are increasing. Investors are looking forward for the FOMC Meeting Minutes due on Wednesday. Later today the President of the European Central Bank Mario Draghi will deliver a testimony on the monetary policy in Brussels. Support for the EURUSD is seen at 1.3708 and resistance is seen at 1.3804. The HotForex Traders Board shows that 74 percent of the traders are short on the EURUSD.



- See more at: http://blog.hotforex.com/eurusd-tra...ifies-in-brussels-today/#sthash.TvCLw02E.dpuf

 

[Stan]

EURUSD trading lower ahead of the US Core CPI report

EURUSD rose yesterday and closed at 1.3757. A report from France indicated that the French Flash Manufacturing Purchasing Managers Index dropped to a reading of 47.1 in December. The Flash Services PMI in France also dropped in December coming at a reading of 47.4. On the other hand the German Flash Manufacturing PMI recorded a gain in December coming at a reading of 54.2, but the Flash Services PMI dropped to a reading of 54.0. The Eurozone Flash Services and Manufacturing PMI and Services PMI came out mixed as well. The Flash Manufacturing PMI rose in December coming at a reading of 52.7 and the Flash Services PMI dropped to a reading of 51.0 in December. In the session ahead investors are looking forward for the Core CPI month over month report due from the United States. The major event for the week remains the FOMC Statement and the FOMC Press Conference due tomorrow. Support for the EURUSD is seen at 1.3708 and resistance is seen at 1.3804. The HotForex Traders Board shows that 68 percent of the traders are short on the EURUSD.





http://blog.hotforex.com/wp-content/uploads/2013/12/EURUSD-17-December-20131.jpg

 

[Stan]

EURUSD trading below the 1.3700 level after the US Federal Reserve scaled down its asset purchase program. US Unemployment Claims on tap.

EURUSD dropped yesterday and closed at 1.3682. The United States Federal Reserve announced that it will scale down its asset purchase program by 10 billion dollars per month starting in January. The cut will reduce the current asset purchase program to 75 billion dollars per month. The market reacted sharply to the release with the Euro dropping around 1 cent against its US counterpart. A bipartisan budget agreement is also getting prepared in the US Congress. The deal was approved by the House of Representatives last week and was also approved by the Senate yesterday. Now the bill will go the President of the United States Barack Obama for his signature. On the other side of the ocean in the Eurozone the German Ifo Business Climate came out close the to market expectation at a reading of 109.5 in December. Investors are now looking forward for the Unemployment Claims release due from the United States today. Support for the EURUSD is seen at 1.3650 and resistance is seen at 1.3730. The HotForex Traders Board shows that 63 percent of the traders are short on the EURUSD.





- See more at: http://blog.hotforex.com/eurusd-tra...mployment-claims-on-tap/#sthash.fVv20SWC.dpuf

 

[Stan]

The single European currency continues to lose ground on Friday. US GDP data on focus today.

EURUSD dropped yesterday and closed at 1.3660. Data released from the Eurozone revealed that the Current Account widened to 21.8 billion October. The President of the European Central Bank Mario Draghi welcomed a deal among the EU finance ministers to set up an agency and network of funds to close troubled banks in the currency union. The Unemployment Claims report from the United States revealed that the initial jobless claims rose by 10K to 379K during the last week. The Federal Reserve Bank of Philadelphia reported that the manufacturing activity in the state continued to expand modestly coming at a reading of 7 in December. Market had expected a higher level of 10. Investors are now looking forward for the Final GDP data due to be released today from the United States and the Fed Chairman nomination vote. Support for the EURUSD is seen at 1.3625 and resistance is seen at 1.3730. The HotForex Traders Board shows that 61 percent of the traders are short on the EURUSD.

See more at: http://blog.hotforex.com/the-single...gdp-data-on-focus-today/#sthash.NKK8JDEA.dpuf

 

[Stan]

EURUSD trading higher ahead of the US Trade Balance data

EURUSD rose yesterday and closed at 1.3627. The ISM Non-Manufacturing Purchasing Managers Index in the United States dropped to a reading of 53 in December. The Consumer Price Index in Germany remained steady at 0.4 percent in December. An official report released today showed that the Retail Sales month over month in Germany recorded a gain of 1.5 percent in November. The German Unemployment Change also released today came out better than the market expectation at a reading of -15K in November. Investors are now looking forward for the Trade Balance data due from the United States later today. Support for the EURUSD is seen at 1.3576 and resistance is seen at 1.3676. The HotForex Traders Board shows that 58 percent of the traders are short on the EURUSD.



- See more at: http://blog.hotforex.com/eurusd-tra...e-us-trade-balance-data/#sthash.wv6deQ0c.dpuf

 

[Stan]

EURUSD trading below the 1.36 mark ahead of the ADP Non-Farm Employment Change data due from the United States. FOMC Meeting Minutes on focus.

EURUSD dropped yesterday and closed at 1.3614. The President of the San Francisco Federal Reserve John Williams highlighted the possibility of massive cut in FED’s bond-buying program and eventual elimination of it in the year ahead. On the other hand the President of the Boston Fed Eric Rosengren stated that he is comfortable with the current decision of the US central bank to taper 10 billion dollars per month, but also warned that FED should not take any “dramatic steps” to reduce the size of the asset purchase program. In the Eurozone the Consumer Price Index dropped 0.8 percent year over year in December. The Unemployment Rate remained at 12.1 percent in December according to data that was released today. Investors are looking forward for the ADP Non-Farm Employment Change data and the FOMC Meeting Minutes due later today. Support for the EURUSD is seen at 1.3576 and resistance is seen at 1.3676. The HotForex Traders Board shows that the long on the short positions of the clients are even.



- See more at:http://blog.hotforex.com/eurusd-tra...eeting-minutes-on-focus/#sthash.Y65l93TG.dpuf

 

[Stan]

EURUSD trading lower ahead of the Non-Farm Payrolls report from the United States

EURUSD rose yesterday and closed at 1.3607. The European Central Bank left its benchmark interest rate unchanged at 0.25 percent. In the United States the President of the Kansas City Federal Reserve Bank Esther George expressed her concerns on the impact of the low interest rates on the economy. The Unemployment Claims data released yesterday from the United States came out better than the market expectation at a reading of 330K during the last week. Today is another busy day for the FX Markets with the Non-Farm Payrolls and the Unemployment rate reports due from the United States. Investors should be aware that there is a potential of volatile moves on the market during the time of the releases. Support for the EURUSD is seen at 1.3566 and resistance is seen at 1.3676. The HotForex Traders Board shows that 53 percent of the traders are short on the EURUSD.



- See more at: http://blog.hotforex.com/eurusd-tra...-from-the-united-states/#sthash.YWRNyMc4.dpuf

 

[fxapex]

EURUSD has a bit of resistence at these level, very volatile dont know if its the right time for a buy....