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27 Jan 2015
EUR/USD making a minor recovery - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that the EUR/USD pair recovered up to 1.1422 this Tuesday on the back of tepid American data and more SNB.
Key Quotes:
"Early Europe, the Switzerland National Bank vice chairman announced the Bank is watching franc against EUR and USD, and may intervene if necessary, giving the EUR some intraday support and boosting the pair above the 1.1300 figure."
"But most of dollar weakness came from US indexes fall, as disappointing earnings reports drove DJIA down around 380 points intraday."
"US Durable Goods Orders decreased 3.4% in December a straight 4-month drop, and pointing out the global slowdown is affecting American companies. Later on the day, Markit Services PMI and Consumer confidence ticked higher yet were not enough to revive dollar demand."
"The FED will have its first meeting of the year tomorrow, and market players are anticipating the Central Bank may hold back on a rate hike considering inflation is likely to remain subdue. Nevertheless, majors will likely range ahead of the news, for most of this upcoming Wednesday."
Key Quotes:
"Early Europe, the Switzerland National Bank vice chairman announced the Bank is watching franc against EUR and USD, and may intervene if necessary, giving the EUR some intraday support and boosting the pair above the 1.1300 figure."
"But most of dollar weakness came from US indexes fall, as disappointing earnings reports drove DJIA down around 380 points intraday."
"US Durable Goods Orders decreased 3.4% in December a straight 4-month drop, and pointing out the global slowdown is affecting American companies. Later on the day, Markit Services PMI and Consumer confidence ticked higher yet were not enough to revive dollar demand."
"The FED will have its first meeting of the year tomorrow, and market players are anticipating the Central Bank may hold back on a rate hike considering inflation is likely to remain subdue. Nevertheless, majors will likely range ahead of the news, for most of this upcoming Wednesday."