wrapper

Euro slightly higher in a quite Wednesday's trade

Wednesday, May 11 2016
There are no major economic reports today so traders are expected to remain cautious while focusing their attention on the possibility of a U.K. exit from the European Union, renewed issues with Greece and the fear of deflation. The European Central Bank would like to see a weaker Euro, but investors have not cooperated, sending the single currency to its highest price since late August 2015 just last week. 
The ECB is also counting on the Fed to drive the Euro lower, however, the U.S. central bank has been hesitant to raise interest rates given a sluggish domestic economy and an unstable global economy. Traders are giving a rate hike in December only a 50/50 chance. Red flags are also being raised over Greece. Traders may hold the Euro in a range until the release of the Greek GDP report on Friday. 
 
Euro is currently being traded few points below 1.440 level. Pair is likely to find support around 1.1370 handle and resistance above 1.1450 level. There will be no data releases later today.
Last modified on Wednesday, 11 May 2016
More in this category: « UK Industrial Production increased by 0.3% US Crude Oil Inventories fell by 3.4 million barrels »

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.