OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex: EUR/USD finds support at 1.2980

The single currency keeps hovering hover weekly lows around 1.2980/85 on Wednesday, in a context dominated by the risk aversion as we get closer to tomorrow’s ECB monthly meeting.

Camilla Sutton, Chief Currency Strategist at Scotiabank, coincides with the broader market consensus and expects the ECB to leave the refi rate intact at 0.75%, focusing however on Draghi’s presser. “Accordingly, though we expect that President Draghi ultimately turns more dovish and weighs on EUR; we expect that tomorrow’s press conference is in line with February’s”, remarked the expert.

EUR/USD is now down 0.51% at 1.2984
Next support levels align at 1.2966 (2013 low Mar.1) followed by 1.2929 (low Dec.11).
On the upside, a breakout of 1.3075 (high Mar.5) would expose 1.3080 (MA10d) and then 1.3101 (high Mar.1).

Forex: USD/JPY in session highs as yen weakens

The positive momentum of the USD is pushing the cross to session highs in the proximities of 93.90 on Wednesday...
Read more Previous

US markets trading mixed, dollar firmly up

US shares keep the buoyant tone on Wednesday, hovering over all-time highs with the exception of the tech sector, down 0.12% as of writing. Positive data from the US ADP report and the Factory Orders have...
Read more Next
Start livechat