EURUSD trading higher after the Chinese rating agency Dagong downgraded the US sovereign debt.

EURUSD rose yesterday and closed at 1.3531. During his speech yesterday the president of the European Central Bank Mario Draghi stated that the economy in the Eurozone is subdued and uneven and it will stay this way for a while. He also mentioned the possibility for the ECB to cut its benchmark interest rate to assist the growth in the union if needed. Yesterday the United States Senate voted to halt the government shutdown and to raise the US debt limit preventing the largest economy in the world from a potential default. Investors are now looking forward for the Unemployment Claims release due from the United States today. Support for the EURUSD is seen at 1.3552 and resistance is seen at 1.3650. The HotForex Traders Board shows that 77 percent of the traders are short on the EURUSD.



GBPUSD

The Cable dropped yesterday and closed at 1.5947. The jobless claims in the United Kingdom dropped by 41.7K in September surprising the market. On the other hand the Unemployment Rate remained at 7.7 percent for the three months ending in August. In a release today data showed that the UK Retail Sales recorded a gain of 0.6 percent in September. Support for the GBPUSD is seen at 1.6015 and resistance is seen at 1.6120. The HotForex Traders Board shows that 70 percent of the traders are short on the GBPUSD.



- See more at: http://blog.hotforex.com/eurusd-trading-higher-after-the-chinese-rating-agency-dagong-downgraded-the-us-sovereign-debt/#sthash.j6tQ1Ds6.dpuf

EURUSD continues its upside move as FED policy makers are expected to keep the size of the 85 billion bond-buying program.

EURUSD rose yesterday and closed at 1.3683. Officials from the United States Federal Reserve supported the central bank to continue with the size of its bond-buying program for a longer period of time. The President of the United States Federal Reserve in Chicago Charles Evans stated that the central bank should not start tapering the size of its asset purchases, because the data used to gauge the US economy health stopped during the partial government shutdown. On the other hand the President of the Kansas FED Esther George highlighted her support for the Fed to start slowing down the pace of its bond-buying program during the October meeting. The Unemployment Claims in the United States dropped to a level of 358K during the last week. Support for the EURUSD is seen at 1.3590 and resistance is seen at 1.3697. The HotForex Traders Board shows that 77 percent of the traders are short on the EURUSD.



- See more at: http://blog.hotforex.com/eurusd-continues-its-upside-move-as-fed-policy-makers-are-expected-to-keep-the-size-of-the-85-billion-bond-buying-program/#sthash.w5AEDweG.dpuf

EURUSD trading higher ahead of the US Trade Balance and Unemployment Claims reports

EURUSD dropped yesterday and closed at 1.3774. The European Central Bank decided to put the top banks in the Eurozone to a rigorous test next year. The President of the ECB Mario Draghi stated that the test of the banks will be an important step forward for the EU and for the future of the Eurozone economy. In the United States the House Price Index rose less than the market expectation recording a 0.3 percent rise month over month in August. The series of PMI releases from the Eurozone released today came out worse than expected. Investors are now looking forward for the Trade Balance data and the Unemployment Claims report due from the United States later today. Support for the EURUSD is seen 1.3658 and resistance is seen at 1.3812. The HotForex Traders Board shows that 77 percent of the traders are short on the EURUSD.



- See more at: http://blog.hotforex.com/eurusd-trading-higher-ahead-of-the-us-trade-balance-and-unemployment-claims-reports/#sthash.48Gh0XSF.dpuf

EURUSD trading near the session highs ahead of the US Non-Farm Payrolls report


EURUSD rose yesterday and closed at 1.3665. The European Central Bank left the benchmark interest rate unchanged at 0.25 percent. The President of the European Central Bank Mario Draghi stated that ECB is ready to add new measures to stimulate the recovery in the Euro area, but didn’t mentioned any specific measures that will be taken in the future. The Finance Minister of Germany Wolfgang Schaeuble supported the European Central Bank stating that the bank has made progress in its efforts to maintain price stability and a responsible monetary policy. The Unemployment Claims in the United States came out better than expected, but the release was overshadowed by the ECB decision. Investors are now looking forward for the Non-Farm Payrolls report due from the United States later today. Investors should be fully aware of the potential high volatility on the market during the time of the release. Support for the EURUSD is seen at 1.3579 and resistance is seen at 1.3675. The HotForex Traders Board shows that 75 percent of the traders are short on the EURUSD.



- See more at:http://blog.hotforex.com/eurusd-trading-near-the-session-highs-ahead-of-the-us-non-farm-payrolls-report/#sthash.vpCEPosS.dpuf

According to the latest state of the monetary system has improved significantly and is due to the fact that prices have been stable. I read, that the government will stick to this policies.

_________________
market research report

EURUSD trading steady above the 1.3700 level. FOMC Member James Bullard speaks later today.

EURUSD rose on Friday and closed at 1.3704. The US dollar lost strength against its European counterpart after the President of the United States Federal Reserve in Chicago Charles Evens stated that he would like to see a few more job reports like the one in November in order to support a cut of the bond-buying program of FED. A report showed that the unemployment rate in the US dropped to a level of 7.0 percent in November. Another official report showed that the Non-Farm Payrolls in the country rose to a reading of 203,000 in November. In the Eurozone the Factory Orders in Germany declined more than the market expectation to a reading of 2.2 percent in October. During the weekend the plan of the German Chancellor Angela Merkel to rule with the centre-left Social Democrats failed after the youth’s section of the party voted “NO” to her coalition deal. Later in the session we have the speech from the FOMC Member James Bullard due on the Economic Calendar. Investors should be prepared for a potential volatility on the market caused by his comments. Support for the EURUSD is seen at 1.3651 and resistance is seen at 1.3727. The HotForex Traders Board shows that 72 percent of the traders are short on the EURUSD.



- See more at: http://blog.hotforex.com/eurusd-trading-steady-above-the-1-3700-level-fomc-member-james-bullard-speaks-later-today/#sthash.kOfCbKu5.dpuf

EURUSD rose yesterday and closed at 1.3760. The President of the European Central Bank Mario Draghi eased the concerns over the threads of low inflation in the euro area. Draghi asked the governments of the EU countries to deliver economic reforms and complete a banking union. On the economic front a report showed that the Italian GDP for the third quarter was at the previous month’s level. Another report showed that the Industrial Production month over month in Italy rose 0.5 percent in October. A similar report from France indicated that the Industrial Production month over month there dropped 0.3 percent in October. Support for the EURUSD is seen at 1.3650 and resistance is seen at 1.3785. The HotForex Traders Board shows that 70 percent are short on the EURUSD.



- See more at: http://blog.hotforex.com/eurusd-holding-steady-near-the-2013-top-level-ecb-president-mario-draghi-calls-for-banking-union/#sthash.Vmo0RpAG.dpuf

EURUSD testing the 1.3700 level ahead of the Producer Price Index data from the United States

EURUSD dropped yesterday and closed at 1.3752. The Industrial Production in the Eurozone dropped 1.1 percent in October. The European Central Bank indicated in its December monthly report that is very keen on continuing with its accommodative monetary police for a long time, because of the downside risks for the Euro area. The market witnessed mixed data from the United States yesterday, but that didn’t stop the US dollar to gain against its European counterpart. The Retails Sales in the US rose 0.7 percent month over month in November. The Business Inventories also recorded a 0.7 percent gain. A surprise to the market was the worse than expected Jobless Claims data which increased to 368K during the last week. Investors are now looking forward for the Producer Price Index month over month data due to be released later today. Support for the EURUSD is seen at 1.3693 and resistance is seen at 1.3804. The HotForex Traders Board shows that 65 percent of the traders are short on the EURUSD.



- See more at: http://blog.hotforex.com/eurusd-testing-the-1-3700-level-ahead-of-the-producer-price-index-data-from-the-united-states/#sthash.7Q0Q0My1.dpuf

EURUSD trading near the 1.3800 level in the late European session. ECB President Mario Draghi testifies in Brussels today.

EURUSD dropped on Friday and closed at 1.3738. The European Central Bank policy member Peter Praet stated that the recovery in the Euro area remains fragile. The employment level in the Eurozone remained unchanged for a second quarter in a row indicating that there is no big improvement in the labor market. Bets that the United States Federal Reserve will taper the size of its bond-buying program are increasing. Investors are looking forward for the FOMC Meeting Minutes due on Wednesday. Later today the President of the European Central Bank Mario Draghi will deliver a testimony on the monetary policy in Brussels. Support for the EURUSD is seen at 1.3708 and resistance is seen at 1.3804. The HotForex Traders Board shows that 74 percent of the traders are short on the EURUSD.



- See more at: http://blog.hotforex.com/eurusd-trading-near-the-1-3800-level-in-the-late-european-session-ecb-president-mario-draghi-testifies-in-brussels-today/#sthash.TvCLw02E.dpuf

EURUSD trading lower ahead of the US Core CPI report.

EURUSD rose yesterday and closed at 1.3757. A report from France indicated that the French Flash Manufacturing Purchasing Managers Index dropped to a reading of 47.1 in December. The Flash Services PMI in France also dropped in December coming at a reading of 47.4. On the other hand the German Flash Manufacturing PMI recorded a gain in December coming at a reading of 54.2, but the Flash Services PMI dropped to a reading of 54.0. The Eurozone Flash Services and Manufacturing PMI and Services PMI came out mixed as well. The Flash Manufacturing PMI rose in December coming at a reading of 52.7 and the Flash Services PMI dropped to a reading of 51.0 in December. In the session ahead investors are looking forward for the Core CPI month over month report due from the United States. The major event for the week remains the FOMC Statement and the FOMC Press Conference due tomorrow. Support for the EURUSD is seen at 1.3708 and resistance is seen at 1.3804. The HotForex Traders Board shows that 68 percent of the traders are short on the EURUSD.



https://blog.hotforex.com/eurusd-trading-lower-ahead-of-the-us-core-cpi-report/

EURUSD trading below the 1.3700 level after the US Federal Reserve scaled down its asset purchase program. US Unemployment Claims on tap.

EURUSD dropped yesterday and closed at 1.3682. The United States Federal Reserve announced that it will scale down its asset purchase program by 10 billion dollars per month starting in January. The cut will reduce the current asset purchase program to 75 billion dollars per month. The market reacted sharply to the release with the Euro dropping around 1 cent against its US counterpart. A bipartisan budget agreement is also getting prepared in the US Congress. The deal was approved by the House of Representatives last week and was also approved by the Senate yesterday. Now the bill will go the President of the United States Barack Obama for his signature. On the other side of the ocean in the Eurozone the German Ifo Business Climate came out close the to market expectation at a reading of 109.5 in December. Investors are now looking forward for the Unemployment Claims release due from the United States today. Support for the EURUSD is seen at 1.3650 and resistance is seen at 1.3730. The HotForex Traders Board shows that 63 percent of the traders are short on the EURUSD.





- See more at: http://blog.hotforex.com/eurusd-trading-below-the-1-3700-level-after-the-us-federal-reserve-scaled-down-its-asset-purchase-program-us-unemployment-claims-on-tap/#sthash.fVv20SWC.dpuf

EURUSD trading higher ahead of the US Trade Balance data


EURUSD rose yesterday and closed at 1.3627. The ISM Non-Manufacturing Purchasing Managers Index in the United States dropped to a reading of 53 in December. The Consumer Price Index in Germany remained steady at 0.4 percent in December. An official report released today showed that the Retail Sales month over month in Germany recorded a gain of 1.5 percent in November. The German Unemployment Change also released today came out better than the market expectation at a reading of -15K in November. Investors are now looking forward for the Trade Balance data due from the United States later today. Support for the EURUSD is seen at 1.3576 and resistance is seen at 1.3676. The HotForex Traders Board shows that 58 percent of the traders are short on the EURUSD.



- See more at: http://blog.hotforex.com/eurusd-trading-higher-ahead-of-the-us-trade-balance-data/#sthash.wv6deQ0c.dpuf

EURUSD trading below the 1.36 mark ahead of the ADP Non-Farm Employment Change data due from the United States. FOMC Meeting Minutes on focus.

EURUSD dropped yesterday and closed at 1.3614. The President of the San Francisco Federal Reserve John Williams highlighted the possibility of massive cut in FED’s bond-buying program and eventual elimination of it in the year ahead. On the other hand the President of the Boston Fed Eric Rosengren stated that he is comfortable with the current decision of the US central bank to taper 10 billion dollars per month, but also warned that FED should not take any “dramatic steps” to reduce the size of the asset purchase program. In the Eurozone the Consumer Price Index dropped 0.8 percent year over year in December. The Unemployment Rate remained at 12.1 percent in December according to data that was released today. Investors are looking forward for the ADP Non-Farm Employment Change data and the FOMC Meeting Minutes due later today. Support for the EURUSD is seen at 1.3576 and resistance is seen at 1.3676. The HotForex Traders Board shows that the long on the short positions of the clients are even.



- See more at: http://blog.hotforex.com/eurusd-trading-below-the-1-36-mark-ahead-of-the-adp-non-farm-employment-change-data-due-from-the-united-states-fomc-meeting-minutes-on-focus/#sthash.Y65l93TG.dpuf

EURUSD trading lower ahead of the Non-Farm Payrolls report from the United States

EURUSD rose yesterday and closed at 1.3607. The European Central Bank left its benchmark interest rate unchanged at 0.25 percent. In the United States the President of the Kansas City Federal Reserve Bank Esther George expressed her concerns on the impact of the low interest rates on the economy. The Unemployment Claims data released yesterday from the United States came out better than the market expectation at a reading of 330K during the last week. Today is another busy day for the FX Markets with the Non-Farm Payrolls and the Unemployment rate reports due from the United States. Investors should be aware that there is a potential of volatile moves on the market during the time of the releases. Support for the EURUSD is seen at 1.3566 and resistance is seen at 1.3676. The HotForex Traders Board shows that 53 percent of the traders are short on the EURUSD.



- See more at: http://blog.hotforex.com/eurusd-trading-lower-ahead-of-the-non-farm-payrolls-report-from-the-united-states/#sthash.YWRNyMc4.dpuf

EURUSD trading lower in the European session. Light Economic Calendar today.

EURUSD rose on Friday and closed at 1.3667. An official report from the United States revealed that the economy in the United States created 74K jobs in December. Market had expected 197K jobs. On the other hand the Unemployment level in the United States dropped to 6.7 percent in December. The President of the Federal Reserve in Richmond Jeffrey Lacker highlighted the possibility of another 10 billion dollars cut in the bond-buying program on the next meeting of Fed. In the Eurozone a report showed that the Gross Domestic Product in the Euro area rose 0.1 percent in the third quarter of 2013. The economic calendar for the session ahead is very light. Investors are looking forward Federal Budget Balance data from the United States. Support for the EURUSD is seen at 1.3566 and resistance is seen at 1.3683. The HotForex Traders Board shows that 61 percent of the traders are short on the EURUSD.



- See more at: http://blog.hotforex.com/eurusd-trading-lower-in-the-european-session-light-economic-calendar-today/#sthash.anIMKmPV.dpuf

The Cable pushed higher after the Unemployment level in the United Kingdom unexpectedly fell

The Cable rose yesterday and closed at 1.6474. The International Monetary Fund projected a growth of 2.4 percent for the British economy in 2014, that’s faster than any other economy in the European Union. The Claimant Count Change data released today came out worse than expected at a reading of -24K in December. The MPC Official Bank Rate Votes and the Asset Purchase Facility votes came out in line with the market expectation at 0-0-9. Surprise for the markets was the Unemployment Rate release in the UK which came out at 7.1 percent. Market had expected the Unemployment level to come out at 7.3 percent. Following the release the GBPUSD moved sharply higher reaching the 1.6564 level. Support for the GBPUSD is seen at 1.6448 and resistance is seen at 1.6570. The HotForex Traders Board shows that 79 percent of the traders are short on the GBPUSD.



- See more at: http://blog.hotforex.com/the-cable-pushed-higher-after-the-unemployment-level-in-the-united-kingdom-unexpectedly-fell/#sthash.h7G0xBYK.dpuf

US Banks are closed due to the observance of the Presidents Day. Eyes on the Eurogroup Meetings.

EURUSD rose on Friday and closed at 1.3691. The preliminary GDP data from the Eurozone surprised the markets and rose at 0.5 percent on an annual basis in the 4th quarter of 2013. Germany and France also reported better than expected GDP data for the 4th quarter of 2013. A survey from the United States revealed that economists projected that the US economy growth will slow down to an annual rate of 2.0 percent at the current quarter. On the other hand the report indicated a forecast that shows a growth to 3.0 percent in the next quarter prior to the previous forecast of 2.9 percent.

The week on the FX market will be busy with high impact releases from the central banks across the globe. The Economic Calendar for the session ahead is flat. The US banks will be closed due to the observance of the Presidents Day in the United States.

Support for the EURUSD is seen at 1.3614 and resistance is seen at 1.3722. The HotForex Traders Board shows that 70 percent of the traders are short on the EURUSD.



- See more at: http://blog.hotforex.com/us-banks-are-closed-due-to-the-observance-of-the-presidents-day-eyes-on-the-eurogroup-meetings/#sthash.OzBv35jp.dpuf

EURUSD rose on Friday and closed at 1.3737. The President of the European Central Bank confirmed his stance to take proper measures if needed in case the inflation in the Eurozone continues to be below the target of the central bank. He also added that the ECB meeting in March will be the key point where the bank has to decide if there is going to be any additional stimulus to support the nascent recovery in the region. On the other side of the ocean the President of the United States Federal Reserve in Saint Louis James Bullard projected continuation of the tapering of the asset purchase program of Fed. Bullard blamed the unusual bad weather for the soft economic data that’s flooding the markets lately.

A report from Germany today indicated that the German Ifo Business Climate rose unexpectedly to a reading of 111.3 in February. Separate report indicated that the Consumer Price Index in the Eurozone rose 0.8 percent on an annual basis in January.

Support for the EURUSD is seen at 1.3680 and resistance is seen at 1.3770. The HotForex Traders Board shows that 73 percent of the traders are short on the EURUSD.



- See more at: http://blog.hotforex.com/eurusd-trading-higher-after-better-than-expected-data-from-germany/#sthash.KYNoEIwE.dpuf

Although the single currency traded sideways in Asia yesterday and briefly rose to session high at 1.3757 in European morning, subsequent sell off to as low as 1.3662 in New York on risk aversion together with dollar's strength post the surprise increase in U.S. new home sales strongly suggests the rise from February's 2-month low at 1.3477 has made a temporary top at 1.3773 last Wednesday and a stronger retracement to 1.3625 (50% r) is seen.

On the upside, only above 1.3715 (previous support, now resistance) would abort intra-day bearish outlook and risk gain to 1.3758/63 but aforesaid 1.37773 high should remain intact.

_________________
Market research reports

EURUSD opened with a gap lower due to the Ukraine crisis. ECB President Draghi speaks today.

EURUSD rose on Friday and closed at 1.3801. The United States dollar came under pressure after the revised preliminary GDP data for the fourth quarter of 2013 came out worse than the market expectation at 2.4 percent. The President of the United States Federal Reserve in St. Louis James Bullard stated that the weakness of the recent economic reports is a result of the bad weather in the US and should not dampen optimism of the recovery of the economy for the rest of the year.
The Consumer Sentiment Index in the United States rose to a reading of 81.6 in February.

The weak ahead is going to be busy for the financial markets with the series of high impact releases scheduled. Investors are looking forward for the ECB rate decision which has been a major concern during the recent weeks. The Non-Farm Payrolls report from the United States is also on focus. In the session ahead investors are awaiting the speech of the ECB President Mario Draghi in Brussels and the ISM Manufacturing Purchasing Managers Index due from the United States.

Support for the EURUSD is seen at 1.3996 and resistance is seen at 1.3823. The HotForex Traders Board shows that 73 percent of the traders are short on the EURUSD.



- See more at: http://blog.hotforex.com/eurusd-opened-with-a-gap-lower-due-to-the-ukraine-crisis-ecb-president-draghi-speaks-today/#sthash.U9yEySKv.dpuf

EURUSD dropped yesterday and closed at 1.3734. Negative sentiment on the market was fueled by the situation in Ukraine and the IMF chief Christine Lagarde. Lagarde stated that she sees 15-20 percent risk of extended low inflation in the Eurozone. The President of the European Central Bank Mario Draghi also stated that the persistent low inflation could pose a risk to the inflation expectations. The ISM Manufacturing Index in the United States rose to a reading of 53.2 in February.

Support for the EURUSD is seen at 1.3696 and resistance is seen at 1.3823. The HotForex Traders Board shows that 70 percent of the traders are short on the EURUSD.



- See more at: http://blog.hotforex.com/eurusd-trading-steady-after-the-sharp-drop-yesterday/#sthash.DPuFCRow.dpuf

http://www.hotforex.com

Date : 01 July 2014

EURUSD UNCHANGED AFTER THE MANUFACTURING PMI AND UNEMPLOYMENT DATA. ISM MANUFACTURING PMI FROM THE UNITED STATES ON FOCUS.

EURUSD rose yesterday and closed at 1.3691. The US Pending Home Sales rose to a 4-year high reaching 6.1 percent on a monthly basis in May. On the other hand the Chicago PMI dropped to a reading of 62.6 in June. Data released from the Eurozone showed that the inflation remained unchanged at 0.5 percent in June, remaining below the ECB target for a 9th consecutive month.

Data released today indicated that the unemployment level in the Eurozone remained unchanged at 11.6 percent. Another report indicated that the unemployment level in Germany unexpectedly rose by 9K for a second month.

Investors are now looking forward for the ISM Manufacturing PMI release due from the United States.

Support for the EURUSD is seen at 1.3609 and resistance is seen at 1.3696.



Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

_________________
HotForex is an award winning, fully regulated and licensed online forex and commodities broker. Offers various accounts, trading software and trading tools to trade Forex and Commodities for individuals, fund managers and institutional customers.

Date : 02 July 2014

EURUSD TRADING LOWER AHEAD OF THE EUROZONE’S FINAL GDP REPORT.

EURUSD dropped yesterday and closed at 1.3678. Data released from the Eurozone showed that the Final Manufacturing PMI dropped to a 7 month low reading of 51.8 in June. Another report indicated that the number of unemployed people in Germany rose for a second consecutive month. On the other hand the Unemployment Rate in the Eurozone remained stable at 11.6 percent. Market had expected a rise to 11.7 percent. Data from the United States indicated that the ISM Manufacturing PMI dropped to a reading of 55.3 in June.



Investors are now looking forward for the final first quarter GDP report of the Eurozone and the ADP Non-Farm Employment Change report due from the United States. Later on the Fed Chair Janet Yellen speaks at the International Monetary Fund in Washington DC.

Support for the EURUSD is seen at 1.3609 and resistance is seen at 1.3696.



Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

_________________
HotForex is an award winning, fully regulated and licensed online forex and commodities broker. Offers various accounts, trading software and trading tools to trade Forex and Commodities for individuals, fund managers and institutional customers.

Date : 03 July 2014

EURUSD TRADING LOWER AHEAD OF THE ECB MINIMUM BID RATE DECISION. BUSY DAY FOR THE FX MARKETS.

EURUSD dropped yesterday and closed at 1.3658. The French Prime Minister Manuel Valls urged the European Central Bank to take additional measures including asset-purchases to depreciate the value of the single European currency. According to him to Euro is still overvalued and the current rate has negative effect on the economy of the EU. The producer prices in the Eurozone dropped for a fifth consecutive month recording another drop in by 0.1 percent May. On the other hand the GDP in the Eurozone came in line with the market expectations at 0.2 percent. Data released from the United States indicated that the ADP Non-Farm Employment Change rose by 281K in June registering its highest level since November 2012.



Today is going to be a busy day for the FX Markets with lots of high-impact releases. Investors are looking forward for the Minimum Bid Rate of the European Cental Bank, the ECB Press Conference, The US Trade Balance, Unemployment Clams and Unemployment Level as well as the Non-Farm Payrolls which are going to be released today due to the bank holiday in the United States tomorrow. Banks in the United States will be closed due to the observance of the Independence Day.


Support for the EURUSD is seen at 1.3609 and resistance is seen at 1.3696.



Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

_________________
HotForex is an award winning, fully regulated and licensed online forex and commodities broker. Offers various accounts, trading software and trading tools to trade Forex and Commodities for individuals, fund managers and institutional customers.

Date : 07 July 2014

EURUSD HOLDING BELOW THE 1.36 MARK IN THE EUROPEAN SESSION. EUROGROUP MEETINGS ON FOCUS.

EURUSD dropped on Friday and closed at 1.3593. The US dollar gained momentum after speculations that Fed will provide clear outlook of the interest rate rise perspective during the FOMC Meeting Minutes. The dollar was also boosted by the IMF Chief Christine Lagarde stated that the economic recovery in the US would eventually gain momentum. The ECB policymaker Christian Noyer stated on Sunday that the governments of the various EU countries are making no attempts to reduce their deficit. He also added that further deflation is avoided for the moment.






Data released today indicated that the German Industrial Production dropped -1.8 percent on a monthly basis in May.

Support for the EURUSD is seen at 1.3577 and resistance is seen at 1.3664.





Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument.

_________________
HotForex is an award winning, fully regulated and licensed online forex and commodities broker. Offers various accounts, trading software and trading tools to trade Forex and Commodities for individuals, fund managers and institutional customers.