Date : 7th November 2014
EURUSD PUSHED BELOW THE 1.2400 LEVEL AFTER THE ECB PRESS CONFERENCE. US NON-FARM PAYROLLS REPORT ON TAP.
EURUSD dropped sharply yesterday and closed at 1.2374. The President of the European Central Bank Mario Draghi indicated yesterday that the policymakers are preparing additional stimulus measures to inject liquidity in the economy of the Eurozone if needed. ECB maintained its Minimum Bid Rate at 0.05 percent in line with the market expectations.
Data released from the United States indicated that the number of people claiming initial unemployment benefits dropped to 278K during the last week. The President of the United States Federal Reserve in Cleveland Loretta Mester anticipated a rise in the interest in the largest economy in the world to come sometime in 2015, citing the stable inflation.
Investors are now focused on the outcome of the US Non-Farm Payrolls report and the Unemployment Rate data. Later today the President of the United States Federal Reserve Janet Yellen speaks at the Bank of France’s Symposium “Central Banking: The Way Forward?,” in Paris.
Support for the EURUSD is seen at 1.2368 and resistance is seen at 1.2563.
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 PUSHED BELOW THE 1.2400 LEVEL AFTER THE ECB PRESS CONFERENCE. US NON-FARM PAYROLLS REPORT ON TAP.
EURUSD dropped sharply yesterday and closed at 1.2374. The President of the European Central Bank Mario Draghi indicated yesterday that the policymakers are preparing additional stimulus measures to inject liquidity in the economy of the Eurozone if needed. ECB maintained its Minimum Bid Rate at 0.05 percent in line with the market expectations.
Data released from the United States indicated that the number of people claiming initial unemployment benefits dropped to 278K during the last week. The President of the United States Federal Reserve in Cleveland Loretta Mester anticipated a rise in the interest in the largest economy in the world to come sometime in 2015, citing the stable inflation.
Investors are now focused on the outcome of the US Non-Farm Payrolls report and the Unemployment Rate data. Later today the President of the United States Federal Reserve Janet Yellen speaks at the Bank of France’s Symposium “Central Banking: The Way Forward?,” in Paris.
Support for the EURUSD is seen at 1.2368 and resistance is seen at 1.2563.
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.