Euro Sees Late Resurgence as FOMC Suggest that US Rates Will Remain Low

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Forex Trading

: 23 May 2014

The euro is finally starting to make a bit of a move against the dollar.

Having remained close to the $1.37 mark for over a week, ECB central bankers are finally starting to get their wish, a weaker euro.

Rather than weak data from the Eurozone, strong data from across the pond was the rationale behind the fall, with the euro closing 32 points lower at $1.3655.



Forex Trading

: 22 May 2014

Having trended down for most of the day, the shared currency made a late comeback following the Fed minutes.

The FOMC re-iterated their stance to maintain low interest rates for the foreseeable future, weakening the dollar.

The euro closed down 13 points at $1.3687 against the dollar.



Forex Trading

: 21 May 2014

The euro still won't budge against the dollar.

It is hovering just above the $1.37 mark where it has now spent the majority of the last week.

However, forex traders are likely to see some action today as the FOMC minutes are upon us this evening.

As always with major central bank releases, it is possible that the pair will move as violently as it did two weeks ago when Mario Draghi laid out his feelings on the Eurozone.



Forex Trading

: 20 May 2014

It was another very quiet day for the euro against the dollar.

This was not a surprise given the lack of market moving news for spread betting investors to dig their teeth into.

Their was some brief excitement in the middle of the session when ECB member Yves Mersch re-iterated the central bank's intention to loosen monetary policy at next month's meeting.

The pair rose 10 points to close at $1.3708.



Forex Trading

: 19 May 2014

The euro was pretty much unchanged against the dollar for the third day on the trot.

The pair closed down 10 points at $1.3698.

Traders will look forward to Wednesday evening when the minutes from April's FOMC meeting will hopefully give some more clues as to the future of US monetary policy.


By Jonathan Sudaria, 23 May 2014


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