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EUR/USD2014-07-30 06:33 UTC

EUR-USD remains in a bear trend with today marking the tenth lower low over the last 12 trading days. Resistance is pegged at 1.3455-80, which encompasses a number of daily highs and lows from last week. Support is marked at 1.3400. We favour selling into EUR-GBP's recent gains given the contrasting policy stances of the ECB and BoE, targeting the July 2012 low at 0.7755. Read More 

XE Market Analysis

  • North American Edition2014-07-29 10:51 UTC

    The dollar is moderately firmer across-the-board into the start of the two-day FOMC meeting, which is expected to see the Fed taper a further $10 bln off the QE purchase program. EUR-USD dipped to the 1.3630 area while USD-JPY lifted to 102.00, where good Japanese exporter offers are reported. Cable came under pressure, breaching Friday's one-month low at 1.6961 after a short lived spike on a stronger than expected mortgage approval number. The IMF said ... Read More 

  • European Edition2014-07-30 06:33 UTC

    EUR-USD edged out a fresh low of 1.3403 in quiet trade in Asia, which makes this the tenth lower low over the last 12 trading days. A Morgan Stanley research note arguing that short euro is the "G10 trade for the next 12 months" aptly reflects the general market sentiment. Helping support the dollar side of the equation, meanwhile, have been perky short-end Treasury yields ahead of today's FOMC announcement, which we don't expect to bring a major ... Read More 

  • Asian Edition2014-07-29 18:19 UTC

    The dollar rallied across the board in N.Y. trade on Tuesday, as EUR-USD edged under 1.3410, making new eight month lows, as USD-JPY reclaimed the 102 handle for the first time in over two-weeks. Cable drifted under 1.6935, as USD-CAD rallied over 1.0865. Firmer home rice data, and a cycle high consumer confidence print helped the greenback, though risk appetite overall remained subdued on the back of geopolitics, and prospects for a fresh round of ... Read More 

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