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Forex Forum |Forex | Forex Trading | Currency Trading > FX Strategies > Trading Strategy > Euro » EURUSD makes new highs on FOMC minutes, US bank earnings
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Old 10-15-2009, 09:39 AM   #1 (permalink)
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Post EURUSD makes new highs on FOMC minutes, US bank earnings

EURUSD made a new 14-month high this morning in Asian trading session after dovish FOMC minutes and better-than-expected JPMorgan Chase Q3 earnings.. The Fed said in minutes "some members thought that an increase in the maximum
amount of the Committee's purchases of agency MBS could help to reduce economic slack more quickly than in the baseline outlook". Additionally, The policymakers felt inflation would remain subdued for some time amid substantial resource slack. Risk appetite was also stoked by the betterthan-expected JPMorgan Chase earning report and strong retail sales. Hawkish comments from the RBA Governor and stronger than expected inflation in New Zealand added to rate hike expectations, putting further pressure on USD. Asian currencies similarly moved higher, leading to more central bank intervention. All factors point to continued USD weakness and a break above critical resistance at 1.5000 level looks likely – although perhaps not at first try given positioning and likely barriers at that level.
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Old 11-24-2010, 07:43 PM   #2 (permalink)
 
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