26 Aug 2015
EUR/USD back above 1.14000 on Dudley comments
FXStreet (Córdoba) - EUR/USD broke below 1.1400 after the release of the US durable goods orders report that surpassed expectations. The pair bottomed at 1.1351, reaching the lowest level since last Friday. It remained trading near the lows amid a stronger USD dollar in the market, but then bounced to the upside, after W. Dudley comments, climbing back above 1.1400
The president of the New York Federal Reserve Bank said that a rate hike in September seem less compelling for him than what it was a few weeks ago. The comments reduced expectations about a rate hike by the Fed in September. Still, the NY Fed chairman hopes that the central bank can raise rates on 2015.
EUR/USD back to Monday’s level
Thanks to Dudley’s outlook EUR/USD rose back above 1.1400; before it was trading with support at 1.1350 and resistance below 1.1400, around the levels it closed last week.
The euro surged on Monday, rising 400, surpassing momentarily 1.1700. It failed to hold and it pulled back sharply erasing all gains.
The president of the New York Federal Reserve Bank said that a rate hike in September seem less compelling for him than what it was a few weeks ago. The comments reduced expectations about a rate hike by the Fed in September. Still, the NY Fed chairman hopes that the central bank can raise rates on 2015.
EUR/USD back to Monday’s level
Thanks to Dudley’s outlook EUR/USD rose back above 1.1400; before it was trading with support at 1.1350 and resistance below 1.1400, around the levels it closed last week.
The euro surged on Monday, rising 400, surpassing momentarily 1.1700. It failed to hold and it pulled back sharply erasing all gains.