FOMC minutes main event tonight
City Index April 8, 2015 2:18 PM
<p>The euro has been falling rapidly over the past couple of days from the 1.10 level again, but we start this morning giving back 60 points already, as […]</p>
The euro has been falling rapidly over the past couple of days from the 1.10 level again, but we start this morning giving back 60 points already, as more swings look to be in store. The 1.10 level attracts the bulls and the bears take over from there.
Retail sales from the Eurozone is the only bit of data to look for from the EU, which is expected to be -0.1% from a previous 1.1%.
The pound is also following suit against the USD, giving back 80 points this morning from yesterday’s sell-off, again looking for 1.50 where it gets sold into.
The main event tonight will be the FOMC minutes which will likely be very volatile for the US dollar, as we await the first rate rise information.
Supports 1.0760-1.0705-1.0605 | Resistance 1.0915-1.1015-1.1065
Supports 119.65-119.00-118.60 | Resistance 120.70-121.10-121.70
Supports 1.4770-1.4725-1.4650 | Resistance 1.4890-1.4965-1.5000
GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.