The pair squeezed higher following the conclusion of the press conference from Draghi and completely pared the initial sell-off to settle in minor positive territory. Apart from touted short-squeeze, as well as scaling back of option volatility plays following the conclusion of the risk event, the pair is being supported by comments from Draghi, who noted that commitment to Euro is largely underestimated. Still, the Euribor curve flattened after ECB's Draghi said that monetary policy stance will remain accommodative for as long as needed and noted that while that economic activity has extended into the early part of the year, a gradual recovery is projected for the second half of this year, albeit with downside risks.
GBP/USD
The pair recovered off lows after the BoE voted the keep both interest rate and the Asset Purchase Facility (APF) unchanged, however the underlying trend remains bearish and there is a risk of another leg lower in the near future should the macroeconomic data fail to improve. Technical support levels are seen at 1.50227, the March 20-low and then 1.4832, the March-12 low.
USD/JPY
The pair traded sharply higher on Thursday after the BoJ introduced the so-called quantitative qualitative easing, pledged to buy JPY 7trl of bonds per month. 40-year JGBs are now eligible for bond purchases and the BoJ are to double the holdings of JGBs and ETFs in two years, with the aim of increasing the monetary base at an annual pace of JPY 60-70trl. Technically, there is a major resistance level at 96.715, March high.
- English (UK)
- English (India)
- English (Canada)
- English (Australia)
- English (South Africa)
- English (Philippines)
- English (Nigeria)
- Deutsch
- Español (España)
- Español (México)
- Français
- Italiano
- Nederlands
- Português (Portugal)
- Polski
- Português (Brasil)
- Русский
- Türkçe
- العربية
- Ελληνικά
- Svenska
- Suomi
- עברית
- 日本語
- 한국어
- 简体中文
- 繁體中文
- Bahasa Indonesia
- Bahasa Melayu
- ไทย
- Tiếng Việt
- हिंदी
Overseas FX: EUR Slightly Up
Published 04/04/2013, 10:56 AM
Updated 07/09/2023, 06:31 AM
Overseas FX: EUR Slightly Up
EUR/USD
Latest comments
Loading next article…
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.