Back
2 Jan 2015
EUR/USD testing daily lows
FXStreet (Córdoba) - EUR/USD dropped earlier to 1.2034 hitting the lowest price since June 2010 and then bounced modestly to the upside but found resistance at 1.2070. Ahead of US data and Wall Street opening bell the pair is trading slightly above the lows, under pressure.
EUR/USD affected by USD, PMI and Draghi
The PMI report of the Eurozone showed an increase from 50.1 in November to 50.6 in December but it was below the flash estimate (50.8). Also Mario Draghi, European Central Bank President, contribute to keep the euro limited, as it signaled that the probability of a large bond buying program is increasing. The risk that we don’t fulfill our mandate of price stability is higher than it was six months ago, told Draghi to a german newspaper.
Also the pair remains pressure in the short term by US dollar strength. Greenback recently reached fresh highs across the board, including levels not seen in years versus the loonie and the pound.
EUR/USD affected by USD, PMI and Draghi
The PMI report of the Eurozone showed an increase from 50.1 in November to 50.6 in December but it was below the flash estimate (50.8). Also Mario Draghi, European Central Bank President, contribute to keep the euro limited, as it signaled that the probability of a large bond buying program is increasing. The risk that we don’t fulfill our mandate of price stability is higher than it was six months ago, told Draghi to a german newspaper.
Also the pair remains pressure in the short term by US dollar strength. Greenback recently reached fresh highs across the board, including levels not seen in years versus the loonie and the pound.