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Forex: EUR/USD slips below 1.3100

FXstreet.com (Córdoba) - After being rejected by the 1.3140 area, and with the greenback trimming losses across the board, EUR/USD finally surrendered and gave up ground, sliding back below the 1.3100 mark at the beginning of the New York session.

EUR/USD slid to a session low of 1.3088 but clings to gains for the day at the 1.3090 zone, where it is still up 0.2% since opening.

The US dollar reversed early weakness, encouraged by better-than-expected US initial jobless claims which fell to 346K in the latest week. Positive labor data adds to prospects the Fed could consider abandoning its ultra-loose policy after FOMC minutes showed members have been discussing the appropiate timing for such move.

Forex Flash: GBP/USD with scope for a move to 1.5600 – BBH

The BBH analyst team comments that there is a bullish flag patter unfolding in GBP/USD and today's advance, if sustained, would lend credence to it. "The next immediate resistance is seen near $1.5425, but we continue to hold out the prospects of a move toward $1.56", says BBH.
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Forex Flash: Changes abound for the BoJ – Goldman Sachs

Last week’s Bank of Japan meeting saw it embrace –and arguably exceed –QE, Fed-style. The market has taken note. Japanese yields have plummeted, Japanese stocks have rallied and the Yen has weakened. However, “we doubt that the full ramifications of the BoJ’s shift have been felt. We still see scope for the Yen to weaken and for Japanese stocks to rise, even with legitimate uncertainty that the inflation target can be reached quickly.” notes the Economics Research Team at Goldman Sachs.
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