20 Nov 2013
EUR/USD flat around 1.3540
FXstreet.com (Edinburgh) - The shared currency finds decent support in the vicinity of 1.3540 on Wednesday, with the EUR/USD coming down from overnight peaks beyond 1.3560.
EUR/USD eyes on US docket, FOMC
Extremely light calendar in the euro area today, whereas in the US there will be key releases – CPI, Retail Sales and Existing Home Sales – ahead of the FOMC minutes. Bernanke’s speech during the Asian trading hours kept the neutral-to-dovish tone, leaving no room for surprises on either side. Strategist Annette Beacher at TD Securities commented, “The weak tone of the retail sales, existing home sales reports and a benign October CPI should be relatively constructive for the rates market as more evidence of faltering growth momentum should underscore our expectation for the Fed to maintain its current policy stance into early next year. A similar message should emerge from the FOMC minutes, which is also likely to show some discussion on options for policy accommodation”.
EUR/USD levels to watch
The pair is now up 0.01% at 1.3540 and a break above 1.3548 (high Nov.6) would expose 1.3576 (MA21d) and finally 1.3589 (high Nov.1). On the slip side, the initial support aligns at 1.3475 (low Nov.18) followed by 1.3462 (MA10d) and then 1.3418 (low Nov.14).
EUR/USD eyes on US docket, FOMC
Extremely light calendar in the euro area today, whereas in the US there will be key releases – CPI, Retail Sales and Existing Home Sales – ahead of the FOMC minutes. Bernanke’s speech during the Asian trading hours kept the neutral-to-dovish tone, leaving no room for surprises on either side. Strategist Annette Beacher at TD Securities commented, “The weak tone of the retail sales, existing home sales reports and a benign October CPI should be relatively constructive for the rates market as more evidence of faltering growth momentum should underscore our expectation for the Fed to maintain its current policy stance into early next year. A similar message should emerge from the FOMC minutes, which is also likely to show some discussion on options for policy accommodation”.
EUR/USD levels to watch
The pair is now up 0.01% at 1.3540 and a break above 1.3548 (high Nov.6) would expose 1.3576 (MA21d) and finally 1.3589 (high Nov.1). On the slip side, the initial support aligns at 1.3475 (low Nov.18) followed by 1.3462 (MA10d) and then 1.3418 (low Nov.14).