OctaFX | OctaFX Forex Broker
Open trading account
Back

EUR/USD finds resistance at 1.2635

FXStreet (Córdoba) - Greenback lost momentum against European currencies after Wall Street opening bell and trimmed gains. EUR/USD extended the recovery and rose to 1.2634. Then made a small pullback but managed to hold above 1.2600.

Currently the pair is approaching session highs and trades at 1.2630. Despite moving off session lows is still 55 pips below yesterday’s closing price, headed toward the lowest daily close since September 5.

EUR/USD third monthly decline

The euro is about to post the third monthly decline in a row against the US dollar. The last time it fell for three consecutive months was in 2011, during the European debt crisis. So far EUR/USD is down more than 500 pips in September, the worst performance since February 2013.

Rate differentials leading the way - BMO

Stephen Gallo, European Head of Currency Strategy at BMO Capital explained that declines in some of the main European currencies vs. the USD were the main feature of the London morning.
Read more Previous

EZ’s CPI’s seized upon - BBH

Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman noting how sensitive markets are currently to the current environment surrounding Europe.
Read more Next
Start livechat