Forex Trading: 28 February 2014
Some bargain hunting after the previous day's steep sell off pushed the shared currency 23 points higher against the US dollar to $1.3709.
At the same time, economic confidence in the common area unexpectedly rose in February, mainly due to the services industry, which must have put the ECB
The central bank is under growing pressure to find a solution to the recent falls in inflation.
Forex Trading: 27 February 2014
The current unrest in the Ukraine, which threatens to engulf Russia and the West, pushed risk averse FX traders into the safety of the dollar yesterday.
In addition, the US currency was supported by a larger than expected rise in new homes sales.
So, the EUR/USD
pair dropped 84 points to $1.3661 but it's still too early to call this the beginning of the much awaited sell off.
Forex Trading: 26 February 2014
A European economic forecast suggested that the Eurozone will start to perform slightly better in the near future, but will continue to lag behind competitors like the US and China.
However, the most recent economic results from the US have been a mixed bag, meaning that the shared currency and the dollar have been on fairly equal footing for more than a week.
This meant that the EUR/USD pair closed just 10 points higher at $1.3745.
Forex Trading: 25 February 2014
Although the single currency tried to push higher in early trading, the euro-dollar pair closed nearly flat at $1.3735 as worries persist about inflation/deflation in the common area.
Eurozone data showed consumer prices remaining below 1% and the ECB has already promised to consider adding extra monetary stimulus to address the issue, especially when its mandate focuses on price stability.
Forex Trading: 24 February 2014
Following a G20 meeting in Sydney, European Central Bank President Mario Draghi reiterated that the central bank is ready to add more stimulus should the outlook deteriorate, although deflation is not visible.
The shared currency gained a mere 18 points against the dollar to finish the week at $1.3737 and looks to be in no mood for a breakout in either direction in the forex spread betting
markets so far this morning.
The information and comments provided herein under no circumstances are to be considered an offer or solicitation to invest and nothing herein should be construed as investment advice. The information provided is believed to be accurate at the date the information is produced.
By Jonathan Sudaria, 28 February 2014