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30 Dec 2014
EUR/USD: Little activity as markets eye US consumer confidence – MP
FXStreet (Barcelona) - Kenny Fisher, Currency Analyst at Market Pulse, notes that the EUR/USD pair continues to trade quietly in the mid-1.21 range, as markets await the US consumer confidence report to be released today.
Key Quotes
“EUR/USD continues to trade quietly in the final year of 2014. In Tuesday’s European session, the pair is trading in the mid-1.21 range. The euro is struggling, having lost about 350 points in the past two weeks. On the release front, Spanish CPI posted a sharp decline of 1.1%, while Eurozone Private Loans came in at -0.9%, matching the forecast. In the US, today’s highlight is CB Consumer Confidence. The markets are expecting a strong reading for December, with the estimate standing at 94.6 points.”
“EUR/USD edged lower in the Asian session, testing support at 1.2143. The pair has reversed directions in the European session and posted gains.”
“1.2143 is a weak support level. 1.2042 is next. 1.2286 remains a strong resistance line.”
Key Quotes
“EUR/USD continues to trade quietly in the final year of 2014. In Tuesday’s European session, the pair is trading in the mid-1.21 range. The euro is struggling, having lost about 350 points in the past two weeks. On the release front, Spanish CPI posted a sharp decline of 1.1%, while Eurozone Private Loans came in at -0.9%, matching the forecast. In the US, today’s highlight is CB Consumer Confidence. The markets are expecting a strong reading for December, with the estimate standing at 94.6 points.”
“EUR/USD edged lower in the Asian session, testing support at 1.2143. The pair has reversed directions in the European session and posted gains.”
“1.2143 is a weak support level. 1.2042 is next. 1.2286 remains a strong resistance line.”