EUR Trading Outlook

22.4.2014-22.4.2014 18.4.2014-14.4.2014 11.4.2014-7.4.2014 4.4.2014-31.3.2014 28.3.2014-24.3.2014 21.3.2014-17.3.2014 14.3.2014-10.3.2014 6.3.2014-3.3.2014 28.2.2014-24.2.2014 21.2.2014-17.2.2014 14.2.2014-10.2.2014 7.2.2014-3.2.2014 31.1.2014-27.1.2014 24.1.2014-20.1.2014 17.1.2014-14.1.2014 8.1.2014-8.1.2014 3.1.2014-23.12.2013 19.12.2013-16.12.2013 13.12.2013-9.12.2013 6.12.2013-2.12.2013 29.11.2013-25.11.2013 22.11.2013-20.11.2013 1.11.2013-28.10.2013 25.10.2013-21.10.2013 18.10.2013-14.10.2013 11.10.2013-7.10.2013 2.10.2013-30.9.2013 27.9.2013-16.9.2013 13.9.2013-11.9.2013 23.8.2013-12.8.2013 9.8.2013-5.8.2013 30.7.2013-29.7.2013 25.7.2013-22.7.2013 18.7.2013-15.7.2013 12.7.2013-9.7.2013 28.6.2013-24.6.2013 21.6.2013-19.6.2013 7.6.2013-3.6.2013 31.5.2013-28.5.2013 23.5.2013-20.5.2013 17.5.2013-14.5.2013 10.5.2013-6.5.2013 2.5.2013-30.4.2013 26.4.2013-22.4.2013 16.4.2013-16.4.2013 10.4.2013-25.3.2013 21.3.2013-19.3.2013 15.3.2013-11.3.2013 7.3.2013-4.3.2013 1.3.2013-25.2.2013 22.2.2013-18.2.2013 15.2.2013-12.2.2013 8.2.2013-4.2.2013 1.2.2013-28.1.2013 25.1.2013-21.1.2013 18.1.2013-14.1.2013 11.1.2013-7.1.2013 4.1.2013-2.1.2013 27.12.2012-18.12.2012 12.12.2012-10.12.2012 7.12.2012-26.11.2012 22.11.2012-12.11.2012 9.11.2012-5.11.2012 2.11.2012-29.10.2012 26.10.2012-22.10.2012 19.10.2012-15.10.2012 12.10.2012-8.10.2012 5.10.2012-1.10.2012 28.9.2012-24.9.2012 21.9.2012-17.9.2012 14.9.2012-10.9.2012 7.9.2012-3.9.2012 31.8.2012-27.8.2012 24.8.2012-20.8.2012 17.8.2012-13.8.2012 10.8.2012-6.8.2012 3.8.2012-30.7.2012 27.7.2012-23.7.2012 20.7.2012-16.7.2012 13.7.2012-9.7.2012 6.7.2012-2.7.2012 29.6.2012-26.6.2012 22.6.2012-18.6.2012 14.6.2012-11.6.2012 8.6.2012-4.6.2012

8th February

The Euro (EUR) the main currency in action yesterday paring back gains against the USD, JPY and GBP before stabilizing into the close of New York. EUR/USD fell to 1.3370 from 1.3550 as Draghi was downbeat on the Eurozone outlook for the rest of the year and left the door open to be critical of FX moves if they affect ECB forecasts after the release of EU economic data in February. In particular he is concern about higher Euro potentially causing lower inflation. EUR/JPY fell as low as Y124.50 but has since recovered to Y125.50 with a bounce in US stocks.

7th February

The Euro (EUR) came under pressure as verbal sparring between France and Germany over the current exchange rate of the Euro intensified. The EUR/USD spiked initially after a comment from Germany that the Euro isn’t overvalued. This was short-lived as France put the EUR/USD on the agenda at Monday’s Eurogroup meeting. Profit taking set in during the US session as traders book profit ahead of the ECB meeting today. Draghi’s press conference will be the main event today especially in regards to the recent Euro strength.

6th February

The Euro (EUR) was the driver of the market via the EUR/JPY cross which fell to Y124 at the start of Europe before running into what is being called a ‘monster’ EUR/JPY buy order out of the Middle East. In one of the sharpest moves higher in recent memory we saw Sovereign names from the Middle east appear aggressively on the buy side in what many analyst assume is a foreign reserve shift away from the Japanese Yen.

5th February

The Euro (EUR) the EUR/USD took the brunt of the selling pressure overnight plummeting to 1.3500 support after the yields on Italian and Spanish Debt jumped sharply. The market had been buying Euro for some time so a correction was due but the speed of the selling and the volume could prompt further profit taking. The Euro was sold on all the crosses as well especially on the EUR/AUD which had been enjoying a strong uptrend.

4th February

The Euro (EUR) EUR/USD was able to take advantage of the ‘not to bad not too good’ jobs numbers which suggested the FED would not be moving anytime soon on stopping bond buying purchase. The EUR/USD hit 1.3700 briefly at the height of the optimism but we have seen significant profit taking in Asia so far Monday back down to the lower 1.3600 region. EUR/JPY is the strongest pair in the market and proving considerable support.

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