7 Apr 2015
Greenback resumes advances - FXStreet
FXStreet (Guatemala) - Valera Bednarik, chief analyst at FXStreet noted that the EUR/USD fell sharply this Tuesday on the US shift.
Key Quotes:
"Extending its decline towards the 1.0810 price zone late in the US afternoon. But the pair was under pressure ever since the European opening, when it shed almost 100 pips, accelerating through the 1.0900 and triggering stops."
"With markets finally returning to full-volume mode, the American dollar resumed its advance, shrugging off the poor employment data released last Friday."
"Earlier in the day, news coming from the Euro zone resulted encouraging, as the Markit Services PMI showed the sector has continued to grow in March, whist sentiment among local business improved, according to the Sentix Index. Nevertheless, there was no demand for the common currency, and if fact, the latest COT report shows that EUR short surged to fresh highs, reaching levels not seen since 1999, weighed by ECB's full-scale QE."
"In the US, Consumer confidence rebounded in April, as the IBD/TIPP Economic Optimism Index gained 2.2 points, or 4.5%, posting a reading of 51.3 vs. 49.1 in March."
Key Quotes:
"Extending its decline towards the 1.0810 price zone late in the US afternoon. But the pair was under pressure ever since the European opening, when it shed almost 100 pips, accelerating through the 1.0900 and triggering stops."
"With markets finally returning to full-volume mode, the American dollar resumed its advance, shrugging off the poor employment data released last Friday."
"Earlier in the day, news coming from the Euro zone resulted encouraging, as the Markit Services PMI showed the sector has continued to grow in March, whist sentiment among local business improved, according to the Sentix Index. Nevertheless, there was no demand for the common currency, and if fact, the latest COT report shows that EUR short surged to fresh highs, reaching levels not seen since 1999, weighed by ECB's full-scale QE."
"In the US, Consumer confidence rebounded in April, as the IBD/TIPP Economic Optimism Index gained 2.2 points, or 4.5%, posting a reading of 51.3 vs. 49.1 in March."