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

December 8, 2016
U.S. equities post a new record high. Euro looks to ECB meeting
U.S. equities edged higher to post new highs in yesterday's trading marking one of the strongest one day gains since the November elections. The DJIA gained 1.6% while the S&P500 closed with 1.3% gains...
December 8, 2016
US equities jump sharply
US markets saw a massive rise today as the Dow was up 300 points and the S&P 500 was up 29 points showcasing that investors believe the advent of Trump will have a positive effect on the US economy.
December 7, 2016
GBP falls as industrial & manu. production miss
The pound has come under pressure in London trading today. EURGBP buying has been a driver, with the cross rallying some 0.5% to a peak of 0.8510, since ebbing to around 0.8490. Gains failed to sustain above the 20-day moving average, which is at 0.8503...

FOREX.com Rating
OctaFX Rating
Tickmill Rating
Orbex Rating
HotForex Rating
FXCM Rating

TopOption Rating
OptionRally Rating
Beeoptions Rating
365BinaryOption Rating
Empire Option Rating
TropicalTrade Rating