OctaFX | OctaFX Forex Broker
Open trading account
Back

EUR/USD back to 1.2540

FXStreet (Edinburgh) - The single currency is giving away initial gains at the end of the Asian session on Monday, dragging EUR/USD back to the 1.2540/35 band.

EUR/USD survives above 1.2500

The pair is looking to consolidate Friday’s break above 1.2500 the figure, now easing some ground after overnight peaks around 1.2580. The G20 meeting left nothing worth of notice for the euro region, with spot following the better sentiment around the risk appetite as the main catalyst. Data wise in the euro area, trade balance figures in Italy, Spain and the UME are due ahead of the more relevant speech by ECB’s M.Draghi. Across the Atlantic, the Empire State index, Industrial Production and Capacity Utilization will be the main highlights.

EUR/USD key levels

At the moment the pair is up 0.06% at 1.2534 with the next resistance at 1.2580 (hourly high Nov.17) ahead of 1.2591 (hourly high Oct.31) and then 1.2614 (low Oct.23). On the flip side, a breach of 1.2514 (hourly low Nov.17) would expose 1.2474 (10-d MA) and finally 1.2459 (200-h MA).

Japan in recession – TD Securities

The TD Securities Research Team notes that today’s weak preliminary Q3 GDP figures indicate that Japan is in recession.
Read more Previous

December Bund futures once again near the 152.00 region – Commerzbank

Axel Rudolph, Analyst at Commerzbank notes that the Bund futures remained near the minor psychological level of 152.00.
Read more Next
Start livechat