Join our community of traders FOR FREE!

  • Learn
  • Improve yourself
  • Get Rewards
Learn More

Euro zone common currency increased its value against the US dollar during early European trade session, after the pair hit highest value since May 16th during Asian session at 1.2904. Speculations arose whether gains would remain limited before FED minutes on Wednesday.

EUR/USD pair is being traded at 1.2885-89 at the moment of the present article. Resistance levels were expected at 1.2928, highest value from May 16th, while the cross was likely to find support at 1.2818, lowest value from Monday.

Markets lie in wait for FED Chairman, Ben Bernankes speech at the US Joint Economic Committee and the minutes of the Fed’s most recent policy meeting. These events are expected on Wednesday. Investors expect indications that the Federal Reserve Bank is to begin scaling back its easing program this year. Positive signals were submitted last week after data, regarding Consumer Sentiment and Leading Indicators Index, both with registered increase, further paving the way towards possible economic recovery.

EUR/JPY pair increased to 132.18, while EUR/GBP cross eased up to 0.8450.

TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

Related News

  • Forex Market: USD/CAD touches one-month lows following strong Canadian jobs dataForex Market: USD/CAD touches one-month lows following strong Canadian jobs data The loonie, as the Canadian dollar is best known, advanced to the strongest level in a month against the US dollar after data showed the Canadian economy added higher-than-expected number of jobs last month, while unemployment fell to the […]
  • Geopolitical Tensions Add Support to Crude Oil BenchmarksGeopolitical Tensions Add Support to Crude Oil Benchmarks Key Moments Brent May futures trade at $71.44, up 0.20 percent from the prior close of $71.30 WTI April futures stand at $66.64, gaining 0.24 percent from the previous settlement of $66.48 Despite recent strength, both […]
  • Deckers Faces Selling Pressure After Analysts Turn More CautiousDeckers Faces Selling Pressure After Analysts Turn More Cautious Key Moments Deckers Outdoor shares fell 3.8% in premarket trading on Tuesday after two analyst downgrades. Baird cut its rating to Neutral after a roughly 35% rebound since November left less than 20% upside. Piper Sandler […]
  • JPMorgan CEO Dimon receives $39 million in 2024 payJPMorgan CEO Dimon receives $39 million in 2024 pay Total 2022 compensation for JPMorgan Chase & Co’s Chief Executive Officer Jamie Dimon has increased more than 8% to $39 million, as the Wall Street bank reported a record profit for FY 2024 amid a revival in dealmaking activities.The CEO’s […]
  • Forex Market: USD/DKK daily trading outlookForex Market: USD/DKK daily trading outlook Yesterday’s trade saw USD/DKK within the range of 6.5377-6.5840. The pair closed at 6.5519, losing 0.47% on a daily basis. It has been the 15th drop in the past 26 trading days, a third consecutive one and also the steepest one since March […]
  • USD/JPY remained below the 100.00 levelUSD/JPY remained below the 100.00 level US dollar continued to trade lower against the Japanese yen on Tuesday, after sliding to nearly one-week lows, as a result of the pressured demand for the greenback, following the disappointing existing home sales report, released […]