Back
13 Mar 2014
EUR/USD doesn’t give up 1.3950
FXStreet (Edinburgh) - The single currency is trading on a firm tone today, with the EUR/USD keeping the ytd highs in the 1.3950/55 band so far.
EUR/USD bolstered by risk appetite
The sentiment around the riskier assets continue to improve on Thursday against the backdrop of diminishing concerns about a Chinese slowdown and easing tensions around the Crimean peninsula (although Sunday’s referendum represents a significant downside risk). Some ECB officials tried to pour cold water on the recent ECB inaction (interpreted as hawkish-ish), however markets seem to have largely bypassed them. Data from the euro area showed higher consumer prices in France during February and an annual expansion of 0.5% from Spanish retail sales. Ahead in the day, US retail sales (0.2% headline exp.) and initial claims (330K exp.) would be in the limelight.
EUR/USD levels to watch
At the moment the pair is advancing 0.33% at 1.3950 with the next hurdles at 1.4000 and 1.4100 (psychological levels) followed by 1.4172 (high Oct.31 2011).On the flip side, a breakdown of 1.3896 (low Mar.13) would expose 1.3843 (low Mar.12) and finally 1.3834 (low Mar.11)
EUR/USD bolstered by risk appetite
The sentiment around the riskier assets continue to improve on Thursday against the backdrop of diminishing concerns about a Chinese slowdown and easing tensions around the Crimean peninsula (although Sunday’s referendum represents a significant downside risk). Some ECB officials tried to pour cold water on the recent ECB inaction (interpreted as hawkish-ish), however markets seem to have largely bypassed them. Data from the euro area showed higher consumer prices in France during February and an annual expansion of 0.5% from Spanish retail sales. Ahead in the day, US retail sales (0.2% headline exp.) and initial claims (330K exp.) would be in the limelight.
EUR/USD levels to watch
At the moment the pair is advancing 0.33% at 1.3950 with the next hurdles at 1.4000 and 1.4100 (psychological levels) followed by 1.4172 (high Oct.31 2011).On the flip side, a breakdown of 1.3896 (low Mar.13) would expose 1.3843 (low Mar.12) and finally 1.3834 (low Mar.11)