News

On Wednesday Euro/Dollar traded within narrow 55 pip range. The European currency appreciated from 1.3210 to 1.3267 yesterday, matching the positive Interbank sentiment projection at over +15%, closing the day at 1.3247. This morning the Euro is trading quietly, with movements within yesterday's range for now. On the 1 hour

The surprise decline in yesterday's German flash PMI data for February, although disappointing, does not necessarily indicate a recession for the country in Q1 of this year. However, it does highlight that growth in the euro area's key 'core' member may not be as strong as previously thought. The manufacturing

GBP: The dovish BOE MPC vote outcome, 2 members voted for more QE, hammered the British pound, stops below 1.5750-60 and 1.5700 were triggered and more stops below 1.5650 and 1.5640 are now in focus, however, fresh bids are likely to emerge further out at 1.5590-00 and 1.5550. On the

Japanese officials have been out patting themselves on the back about the recent JPY decline: PM Noda bragged that the market had reacted 'favourably' to the latest BOJ easing. BOJ’s Shirakawa maintained his dovish stance by saying the nine-member board shares a strong resolve to continue 'powerful' easing until the

The Euro (1.3248) seems to be confused as where to go and is continuing to be ranged between 1.3200-3300. Will the German IFO data release today trigger a breakout of this sideways range? We will have to wait and see. Dollar-Yen (80.19) has risen above 80 and is keeping up

Sterling was sold off sharply earlier today after BoE minutes unexpectedly revealed that two policy makers favored more expansion in the asset purchase program. GBP/USD is back pressing 1.57 level while EUR/GBP jumped through 0.84. Elsewhere, Euro is generally soft as Eurozone PMIs disappointed. Weakness in European equities also exerted

The Japanese currency weakened to a seven-month low against the U.S. dollar as the highest yield premium on Treasuries when compared with Japanese debt since August damped the appeal of yen-denominated assets.

EUR/USD Today's support: - 1.3179 - 1.3140(main), where correction is possible. Break would give 1.3125, where correction also may be. Then follows 1.3084. Break of the latter would result in 1.3053. If a strong impulse, we would see 1.3018. Continuation will give 1.2974.