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Forex Technical & Market Analysis FXCC May 24 2013

Will German GDP/IFO be the catalyst to take EUR/USD back above 1.3000?

The EUR/USD finished the session sharply higher, mainly benefiting from a better than expected European PMI data print. It will be another busy upcoming economic session in Europe, with German GDP due out at 6:00GMT, followed by German IFO at 8:00GMT. One has to ask, if the print comes in better than expected, will it be enough to take the pair ...

Forex Technical & Market Analysis FXCC May 23 2013

FOMC minutes show members open to tapering QE

The minutes from the April 30 and May 1 FOMC meeting showed that "a number" of officials expressed willingness to taper the bond buying program as early as the June meeting "if the economic information received by that time showed evidence of sufficiently strong and sustained growth". However, according to the minutes, views differed about what evidence ...

Forex Technical & Market Analysis FXCC May 22 2013

Bernanke testimony, FOMC minutes, & European data to heighten EUR/USD volatility

The EUR/USD finished the day moderately higher, closing up 25 pips at 1.2905 ahead of what is sure to be a volatile session with Fed Chairman Bernanke set to testify in front of congress at 14:00GMT. Furthermore, we will also see the release of the most recent FOMC minutes at 18:00GMT. According to Sean callow of Westpac,“The US ...

Forex Technical & Market Analysis FXCC May 21 2013

Fed-Speak to dominate EUR/USD trading in coming days

The EUR/USD was able to claw back a small portion of its losses suffered last week, finishing the day up 64 pips at 1.2884. Economic news was light on the session with European markets closed and no releases out of the US. Market participants will be expecting volatility to really pick up later in the week when we see Fed Chairman Bernanke’s testimony to Congress, ...

Forex Technical & Market Analysis FXCC May 20 2013

Bearish developments on EUR/USD charts continue to take shape

It was a rough week for the EUR/USD, as continued speculation of the Fed tapering QE purchases and worries of economic growth in Europe continued to put pressure on the pair throughout the week. When all was said and done, the pair finished the week down 0.90% to close at 1.2838. Market participants will be focusing on a number reports this week including ...