EURUSD And GBPUSD Recovers Ground Intraday

EURUSD And GBPUSD Recovers Ground Intraday

By: Ben Myers | Where To Trade | On:03-02-2015 15:35
Back

Key Highlights

  • Euro and British pound managed to gain ground against the US dollar as buyers appeared.

  • Switzerland Trade Balance released by the Federal Customs Administration posted a trade surplus of 1,515M, compared with the previous revised reading of 3,795M in December 2014.

  • Spanish Unemployment Survey released by the Spanish Government came in at 78.0K, whereas the market was expecting a reading of 83.4K in January 2015.

  • UK PMI Construction released by the Chartered Institute of Purchasing & Supply and Markit Economics increased from the last reading of 57.6 to 59.1 in January 2015.

  • Euro Zone Producer Price Index (PPI) released by the Eurostat declined by 2.7% in December 2014, compared with same month of the last year.

  • Italian Consumer Price Index released by the Istat declined by 0.6% in January 2015, compared with the last reading of 0%.

  • Canadian Industrial Product Price released by the Statistics Canada declined by 1.6% in December 2014 whereas the last reading was also revised to -0.5%.

  • Canadian Raw Material Price Index released by the Statistics Canada came in at -7.6%, up from the last revised reading of -5.7% in December 2014.

  • EURUSD looks like moving higher with buyers gaining control in the near term.

US Personal Income

Earlier during the NY session, the Canadian Industrial Product Price was released by the Statistics Canada. The forecast was slated for a decline of 0.5% in December 2014, compared with the preceding month. However, the outcome was a bit lower as the Canadian Industrial Product Price declined by 1.6% more than the forecast and impacted the USDCAD pair.

London Session Recap

The UK PMI Construction released by the Chartered Institute of Purchasing & Supply and Markit Economics was the highlight of the London session. The market was expecting it to decrease from the last reading of 57.6 to 57.0. However, the result was on the positive side, as the UK PMI Construction managed to post a reading of 59.1 in January 2015. The report mentioned that the output and new business growth managed to rebound well from the lows seen in December. There was a surprise improvement in new work, as it posted the fastest gain for three months. In the report, David Noble, Group Chief Executive Officer at the Chartered Institute of Procurement & Supply mentioned that “after the disappointing end to last year and the drop in the industry’s fortunes, the construction sector has had a perky start with good activity across all sectors”. This was encouraging and somehow helped the British pound in the near term.

In the Euro Zone, the Producer Price Index (PPI) released by the Eurostat declined by 1% in December 2014, which was more than the preceding month’s decline of 0.3%. The forecast was slated for a decline of 0.7%.

Technically, the EURUSD pair bounced sharply during the London session. It even managed to clear the 1.1400 resistance area. The Euro buyers were aggressive as sellers stepped aside for a short covering in the EURUSD pair.

Ben Myers

Ben Myers

Success = few pips, thousand times

Ben Myers is one of the most respected and trusted names in the financial trading industry. Following a long and successful career with HSBC, Bank of Ireland and running his own investment firm

EURUSD Slow and Steady Uptrend

EURUSD Slow and Steady Uptrend

By: Ben Myers | Where To Trade | On:02-05-2015 11:21

Euro traded higher versus the US Dollar Intraday, and registered a new weekly high as buyers were optimistic after a report which points that better growth is possible in the Euro Area.

Euro Above 1.1200 And Looks Set For More Gains

Euro Above 1.1200 And Looks Set For More Gains

By: Simon Furman | Where To Trade | On:30-04-2015 11:11

Euro continued to gain momentum against the US dollar as the latter one weakened recently, which means there is more room for gains in the EURUSD pair.

EURUSD Moved Above 1.1000, Eyes a Test of 1.1040

EURUSD Moved Above 1.1000, Eyes a Test of 1.1040

By: Oliver Miller | Where To Trade | On:29-04-2015 11:06

UK Nationwide Housing Prices highlighting the value of the houses prices in UK and indicate current movements in the housing market posted an increase of 1% in April, compared to the preceding month.

EURUSD Looks Set To Break 1.0920

EURUSD Looks Set To Break 1.0920

By: Darryl Frankfort | Where To Trade | On:28-04-2015 10:53

Euro managed to gain bids during the London session against the US dollar, and it looks like the pair might break the recent high of 1.0920 to trade close to the 1.0950 level.

FX Market Continues To Consolidate Post Dollar Losses

FX Market Continues To Consolidate Post Dollar Losses

By: James Ansher | Where To Trade | On:27-04-2015 10:46

US dollar continued to weaken against a few currencies and managed to recover some ground against currencies like the Euro and the British Pound

StockPair

Press Release

YesOption Voted Best Technical Analysis by DailyForex

YesOption Voted Best Technical Analysis by DailyForex

August 12, 2014 - London, UK, - Leading online forex and binary options trading platform - www.yesoption.com has once again made the news by being awarded the prestigious award of ‘Best Technical Analysis of 2014’ ...
24option binary options broker review

24option binary options broker review

Plus500Findings.com is recently launched online to help traders decide which broker they could open an account. 24Option, one of the popular trading platform online is reviewed whether it is legitimate broker or scam. This reviews and findings are of great benefits for traders, especially for those novice ones, who are just starting in the trading industry. ...
Banc De Binary Expands Investment Research Service

Banc De Binary Expands Investment Research Service

Leading Investment Firm, Banc De Binary, which specializes in binary options trading, has added a new weekly video series and trading webinars to the investment research service that it provides to its clients. ...

Articles

Citigroup Inc. is to pay $25 million amends

Citigroup Inc. is to pay $25 million amends

Citigroup accepted to pay the amends without denying the accusation ...
Netflix added 7.1 million new subscribers

Netflix added 7.1 million new subscribers

Netflix Inc. managed to add in the last quarter of 2016 more subscribers than expected ...
The Federal Reserve Chair Janet Yellen is set to have another speech on Thursday

The Federal Reserve Chair Janet Yellen is set to have another speech on Thursday

On Wednesday, Federal Reserve Chair Janet Yellen spoke about the interest rates and about the United States' economy ...
StockPair

Featured Listings