Euro stuck in range, Yen at 2-month low

November 15, 2013

The European session was relatively quiet as would be normal for a Friday, with most currency pairs consolidating the past couple of days’ moves. There was a lot of volatility yesterday as a result of news flow and economic data.

Markets are digesting the news surrounding Janet Yellen’s testimony yesterday in front of the US Senate Committee. Yellen has been nominated for the Fed Chair position to replace outgoing Chairman Ben Bernanke. Yellen has expressed her dovish views on the US economy and announced her determination to continue with the Fed’s unprecedented monetary stimulus until she sees a robust recovery.

Yellen’s announcement dominated markets today and did not allow the dollar to gain strength against the euro or sterling. The Fed’s bond buying program is a damper on the dollar.

The euro chopped around in a range against the dollar throughout the European session, trading around $1.345 - $1.346. Eurozone inflation numbers were in line with expectations and had little impact on the euro.

Sterling was steady against the dollar after a busy week that was full of UK data releases. Mixed data kept cable in a range – this week there was lower CPI but better employment numbers. The Bank of England quarterly inflation report was very upbeat but yesterday there was worse than expected retail sales. GBPUSD stayed above the key $1.60 handle, hovering $1.6065.

Yen continues to be the biggest loser since expectations of continued monetary easing in Japan is weakening the currency. USDJPY extended gains to 100.42, a new two-month high, where it found tough resistance and fell back on profit-taking. EURJPY edged up to 135.06 and consolidated in a tight range just around the 1.35 handle.

Publication source
FxNet information  FxNet reviews

October 21, 2016
EUR/USD remained unchanged after the ECB
The price maintained its bearish tone on Thursday. The EUR/USD pair stayed around its recent lows during the day. The euro slightly strengthened towards 1.1000 ahead of the US opening. The 50-EMA limited the euro recovery in the 1 hour chart...
October 21, 2016
Decisions on QE Postponed until December
Asian stock markets are narrowly mixed, with Japanese bourses managing marginal gains as the Yen falls against the Dollar. Stock futures in the U.S. are down...
October 21, 2016
EURUSD at $1.09, but declines could be limited
The ECB monetary policy meeting yesterday saw the euro give up its intraday gains to close on a bearish note. As Draghi signaled that the central bank would need time to assess the monetary policy situation...

FBS Rating
HYCM Rating
Vantage FX Rating
OctaFX Rating Rating
XM Rating

Empire Option Rating
Banc De Binary Rating
OptionFair Rating
IQ Option Rating
OptionsXO Rating
Grand Option Rating