wrapper

Euro lower amid Boxing Day trading

Friday, Dec 26 2014

Euro is traded lower in a tighter-range Friday's session with some of the European banks being closed in observance of Boxing Day holiday. Euro remains under pressure as Eurozone economy is far from exit gates of recession and with growth rate slowing down even in Germany. Deflation concerns persist, with inflation at only 0.3%, far away from ECB 2% target despite all the monetary measures, which means that we could be seeing another round of additional monetary stimulus quite soon.

USD continues to gain on its value supported by recent US data which indicates stability and constant raise in labour market, while GDP for the third quarter showed 5% growth, much above forecasted incline. This also points out that Fed could be raising interest rates soon, perhaps even in the first quarter of 2015, though Fed officials are still not hinting at any particular date.

 

Euro fell in the European part of the session opening and is currently being traded few points below 1.22 handle. Most of the European banks are closed in observance of Boxing Day holiday. US session should also be a steadier one as there will be no data releases. Pair is likely to find support around 1.21800 level and resistance above 1.2220 area.

Last modified on Friday, 26 December 2014
More in this category: « Sterling stable around 1.5550 level USD - Major events in the week ahead »

Latest from Editor

About Us

Forex Web News is part of Rolling Capital Network providing financial consulting.

Within the Forex Web News we provide our readers with expert and timely technical analyses, fundamental analyses and news; with one aim – for our readers to make best possible financial decisions.

Forex Web News desks and analysis department follow the international markets closely and create high quality proprietary content on a both daily and weekly basis.

.

All our analysts have several years of trading and analysis experience. The Forex Web News analysis team creates daily and weekly analyses and offer forecasts regarding where they believe the markets are heading. Our readers are provided with data displayed both in texts and on graphs, providing them the fullest understanding of what is happening in the market place.

We are constantly growing our news desks and our analysis departments as we strive to broaden the content we provide to visitors of the Forex Web News.

Disclaimer

Rolling-capital.com – The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate. All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. rolling-capital.com bears no responsibility for any trading losses you might incur as a result of using any data within the Forex Web News.