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Euro edges higher but finds resistance at $1.34

The euro edged higher against the US dollar during a relatively quiet European session. There was little in the way of economic data or news due to the public holiday in the US and France for Veteran’s Day holiday today, resulting in low trading volumes. EURUSD opened in Europe at $1.3365 and gained some 30 pips to $1.3395. The euro was unable to break higher after hitting a session high of...

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November 11, 2013 @ 2:35 pm

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Euro and pound higher on upbeat data

Currency markets are bit more “risk-on” today, although there will be some caution ahead of the European Central Bank and Bank of England policy meetings that are scheduled for Thursday. There are some market expectations for a dovish ECB tomorrow with perhaps even a rate cut or signal for a cut for December. Meanwhile the BoE is decision is unlikely to contain any surprises, with rates...

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November 6, 2013 @ 2:30 pm

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Euro bounces on Eurozone data, sterling up after construction PMI

The euro was able to eke out some gains against the US dollar in the European session, bouncing off a recent six-week low. After a sharp decline last week due to speculation that the European Central Bank will cut interest rates at its policy meeting on Thursday as a result of recent soft inflation data in the Euro zone. EURUSD moved up to the key psychological 1.35 handle , hitting a session...

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November 4, 2013 @ 3:14 pm

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Euro extends losses over Euro zone concerns

Risk appetite during the Asian session today was low despite data showing an improvement in China’s manufacturing activity. However, market participants are being cautious trading in riskier assets as focus is back on the Euro zone. Recent data showed unemployment is climbing back towards record highs in the Euro-region and CPI data yesterday showed inflation was lower than the European...

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November 1, 2013 @ 8:54 am

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