OctaFX | OctaFX Forex Broker
Open trading account

EUR/USD retreats to 1.2925/30, Bernanke eyed

FXstreet.com (Barcelona) - After climbing to the vicinity of 1.2960, the bloc currency is now giving away some gains, returning to the area of 1.2925/30 ahead of Bernanke’s testimony.

“Given the particular emphasis of its symmetric policy bias in the last FOMC statement… the market will be looking for evidence that the Fed’s concern about the weakening economic outlook has shifted the focus sufficiently away for near-term tapering”, noted M.Budkiewicz, Strategist at TD Securities

EUR/USD is now up 0.18% at 1.2929 with the next hurdle at 1.2943 (high May 15) followed by 1.3009 (MA21d) and finally 1.3030 (high May 14).
On the flip side, a breakdown of 1.2841 (low May 21) would aim for 1.2809 (low May 20) and then 1.2796 (low May 17).

EUR/CAD trading at 1.3325/27 after retail sales in Canada

The EUR/CAD has continued to oscillate below its intraday highs (1.3348) Wednesday.
Read more Previous

IMF urges UK to increase efforts to spur growth

The International Monetary Fund released a report on the UK economy on Wednesday in which it suggests that the country should introduce new measures to boost growth and speed up the slow recovery.
Read more Next
Start livechat