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Euro sharply down as markets weigh on Fed comments

Thursday, Mar 19 2015
After yesterday's raise euro pulled back by over 200 points up to the moment, though there were no major data releases from Eurozone, indicating general weakness in the pair and that rebound at this moment can be only of a short term-basis. Few moments ago Targeted LTRO figures were released. While analysts were predicting amount of 40 billion euros official data showed that LTRO will be 97.8 billion euros.
 
Earlier today, German Chancellor Angela Merkel said on Thursday that the return of growth and a fall in unemployment levels in the euro zone showed much progress had been made in the bloc, but that the debt crisis had not been completely overcome. "We have shown what can be achieved with decisive action (in member states) and European solidarity, but we have not overcome the crisis on a sustainable basis for the long term," Merkel told the Bundestag lower house before an EU summit in Brussels.
 
Euro is currently being traded around 1.0660 area. Pair is likely to find support around 1.0550 and resistance above 1.0750 level. Later today, in the US session, Unemployment Claims and Philly Fed Manufacturing Index figures are scheduled for a release.
More in this category: « Aussie in decline in uneventful morning part of the session Unemployment Claims increased less than expected »

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