4 Mar 2015
EUR/USD muted on Beige Book
FXStreet (Edinburgh) - The European currency remained indifferent to the publication of the Fed’s Beige Book, with EUR/USD navigating lows around 1.1075/70.
EUR/USD weaker, ECB eyed
The pair is down around a big-figure since today’s open around 1.1170, ahead of the key ECB meeting due tomorrow. The centre of the debate will gyrate around the QE programme and some aspects regarding its implementation, which remain yet unclear.
In the data space, the Fed’s Beige Book has reported growth in most regions and industries, with the manufacturing sector advancing in most of the areas. The Beige Book also pointed out that some companies in the exports sector could be facing headwinds due to the strong dollar.
EUR/USD levels to consider
As of writing the pair is retreating 0.91% at 1.1073 facing the next support at 1.1.0914 (low Sep.5 2003) followed by 1.0809 (low Sep.4 2003) and finally 1.0762 (low Sep.3 2003). On the flip side, a breakout of 1.1218 (high Mar.3) would expose 1.1245 (high Feb.27) and then 1.1271 (10-d MA).
EUR/USD weaker, ECB eyed
The pair is down around a big-figure since today’s open around 1.1170, ahead of the key ECB meeting due tomorrow. The centre of the debate will gyrate around the QE programme and some aspects regarding its implementation, which remain yet unclear.
In the data space, the Fed’s Beige Book has reported growth in most regions and industries, with the manufacturing sector advancing in most of the areas. The Beige Book also pointed out that some companies in the exports sector could be facing headwinds due to the strong dollar.
EUR/USD levels to consider
As of writing the pair is retreating 0.91% at 1.1073 facing the next support at 1.1.0914 (low Sep.5 2003) followed by 1.0809 (low Sep.4 2003) and finally 1.0762 (low Sep.3 2003). On the flip side, a breakout of 1.1218 (high Mar.3) would expose 1.1245 (high Feb.27) and then 1.1271 (10-d MA).