EUR/USD falls below 1.12as ECB may “accelerate” QE
19 May, 2015
The EUR/USD pair weakened sharply to 1.12 as it met with fresh offers above 1.13 after the ECB’s Coeure said that the bank may front-load its QE program before summer for seasonal reasons.
EUR weakens as bond Yields fall
The shared currency fell into losses as the benchmark bond yields across the Eurozone took a hit after Coeure said the ECB may buy more bonds in May, June for seasonal reasons. It means the bank may buy bonds more than its monthly target of EUR 60 billion.
The EUR took a hit on the “accelerated QE” and the talk of deposit rate falling further into the negative territory. The expectations of further cut into negative territory were triggered since Coeure said short-term rate below zero does not pose a policy problem.
EUR/USD Technical Levels
The pair currently trades at 1.1191. The immediate support is seen at 1.1178, under which the pair could extend the drop to 1.1130. On the flip side, a break above 1.12 could see the pair recover back to 1.1250 levels.
Source link
Related materials
At this point, it would be extremely surprising were the Committee to forego a rate hike. Economic data have indicated accelerating activity over the...
Fails to benefit from the ongoing USD retracement slide and escalating trade tensions. Fading safe-haven demand/rising US bond yields/ECB QE...
The greenback held on the defensive at the start of 2018, with the key US Dollar Index languishing near its lowest level in over three months...
2017 may have been extraordinary in terms of the political influences on G10 FX markets, but central banks have stolen a fair share of market...
Gold came under some renewed selling pressure on Wednesday and eroded majority of its previous session's recovery move from near 5-month lows...
According to CME Group’s flash data for EUR futures markets, traders increased their open interest positions by more than 19.1K contracts...
The greenback, tracked by the US Dollar Index (DXY), is facing strong resistance in the boundaries of the 92.00 handle ahead of the opening bell...
The British Pound faded UK manufacturing PMI-led minor up-tick, lifting the EUR/GBP cross to fresh highs since mid-March...
Oil prices on both sides of the Atlantic witnessed a sharp downward spike, following comments from oil ministers of leading OPEC producers...
Top Brokers offering Daily Forex Market Reviews
Forex Currencies Forecasts
Top 10 Forex Brokers 2018
| # | Broker | Review | |
|---|---|---|---|
| 1 |  | easyMarkets | 88% |
| 2 |  | FXTM | 87% |
| 3 |  | HYCM | 85% |
| 4 |  | FIBO Group | 80% |
| 5 |  | FxPro | 77% |
| 6 |  | FXCM | 74% |
| 7 |  | Alfa-Forex | 72% |
| 8 |  | HotForex | 71% |
| 9 |  | XM | 70% |
| 10 |  | Blue Trading | 67% |