24 Sep 2013
Session Recap: The EUR/USD battle is at 1.3500, Fed lawmakers downplaying easy money?
FXstreet.com (San Francisco) - The market isn't easy as a pie and Federal Reserve's lawmakers know it. So, officials are saying to investors be careful with the easy money. You can be burned. In other words, the fed is playing the Taper tale again and trying to contain Wall Street hunger and USD rally.
After the first German general elections since the advent of the European drama in 2010, the Euro is under pressure as the grand coalition in Germany isn't seemed easy. The EUR/USD battleground is the 1.3500 right now. The pair traded lower on the day from 1.3545 and now it is closing at 1.3495.
Valeria Bednarik, FXstreet.com Chief Analyst, says that "the EUR/USD spent most of the last session struggling around 1.3500, maintaining a short term bearish tone ahead of Asian opening. Having been as low as 1.3480, renewed selling pressure below the level should lead to some further downside ahead for today."
On the other site, the GBP/USD confirmed the 1.6000 support and the pair traded higher today with the Cable closing at 1.6045 in its first positive day in the last three sessions. Tha USD/JPY lost the 99.00 area but the pair hold levels above the 98.50 key support.
Main headlines in the American session
US: Chicago Fed NA index rose to 0.14 in August
Merkel in coalition talks with SPD leader
US PMI surprises with deceleration in manufacturing, GBP/USD adds to gains
Wall Street declines as Fed's tap and Congress uncertainty returns
After the first German general elections since the advent of the European drama in 2010, the Euro is under pressure as the grand coalition in Germany isn't seemed easy. The EUR/USD battleground is the 1.3500 right now. The pair traded lower on the day from 1.3545 and now it is closing at 1.3495.
Valeria Bednarik, FXstreet.com Chief Analyst, says that "the EUR/USD spent most of the last session struggling around 1.3500, maintaining a short term bearish tone ahead of Asian opening. Having been as low as 1.3480, renewed selling pressure below the level should lead to some further downside ahead for today."
On the other site, the GBP/USD confirmed the 1.6000 support and the pair traded higher today with the Cable closing at 1.6045 in its first positive day in the last three sessions. Tha USD/JPY lost the 99.00 area but the pair hold levels above the 98.50 key support.
Main headlines in the American session
US: Chicago Fed NA index rose to 0.14 in August
Merkel in coalition talks with SPD leader
US PMI surprises with deceleration in manufacturing, GBP/USD adds to gains
Wall Street declines as Fed's tap and Congress uncertainty returns