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Forex: EUR/USD holds at 1.3520 despite pressure

The EUR/USD has been easing again today, since the Asian session, from just below the 1.3600 mark, and sharpened the fall on European money flows down to 1.3514 low. However, the area surrounding 1.3520 has been holding the pair against more downside. Thar market trades at 1.3530 (-0.40%) as of writing.

Investors will be eyeing German Factory Orders. Consensus points to a 0.9% rise in December, but an annualized drop from -1.0% to -1.2%.

While below the 1.3600 mark, “the downside will remain vulnerable, with immediate support at 1.3500 and risk seen on a break here to expose 1.3458, below which would complete the failure swing and open way for deeper pullback”, wrote Windsor Brokers analyst Slobodan Drvenica.

Forex Flash: Chinese Government announces reform plan to improve income distribution – Nomura

Nomura economist Zhiwei Zhang notes that the Chinese government announced its plan to reform income distribution today. He comments that this is an important reform plan which has been debated by the government for many years.
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Forex: GBP/USD jumps over 30 pips to trade in positive territory

In what looked like a rather bleak affair this morning turned into one of optimism as the GBP/USD jumped over 30 pips in recent minutes off of the 1.5640 mark to trade positively Wednesday. At the time of writing, the cross is showing signs of life, having settled in the area of 1.5670/71, clinging to a narrow +0.07% gain during European trading.
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