28 Apr 2015
EUR/USD rising to 3-week highs - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted that EUR/USD rose to a fresh 3-week high of 1.0990 as the market decided to dump the greenback.
Key Quotes:
"EUR/USD rose to a fresh 3-week high of 1.0990 as the market decided to dump the greenback this Tuesday amid renewed hopes Greece will avoid default."
"Fears that the country will be forced out of the Euro area eased after Greek PM Tsipras revamped the country's negotiation team late Monday, keeping the EUR on demand for most of the Asian session."
"As the day went by, the trigger for further dollar selling was another round of US negative data, as Consumer Confidence for April surprise to the downside, printing 95.2 from an expected 102.5, whilst the Richmond Manufacturing index, also for April, dropped below expected, to -3. Investors are now waiting for the first estimate of US Q1 GDP and the Fed’s Monetary Policy Statement on Wednesday."
"GDP is expected to come out at 1.0%, reflecting the weak readings seen over the first months of the year, whilst the FED is expected to keep its economic policy unchanged, and offer a dovish stance, all of which weighed on investor's sentiment."
Key Quotes:
"EUR/USD rose to a fresh 3-week high of 1.0990 as the market decided to dump the greenback this Tuesday amid renewed hopes Greece will avoid default."
"Fears that the country will be forced out of the Euro area eased after Greek PM Tsipras revamped the country's negotiation team late Monday, keeping the EUR on demand for most of the Asian session."
"As the day went by, the trigger for further dollar selling was another round of US negative data, as Consumer Confidence for April surprise to the downside, printing 95.2 from an expected 102.5, whilst the Richmond Manufacturing index, also for April, dropped below expected, to -3. Investors are now waiting for the first estimate of US Q1 GDP and the Fed’s Monetary Policy Statement on Wednesday."
"GDP is expected to come out at 1.0%, reflecting the weak readings seen over the first months of the year, whilst the FED is expected to keep its economic policy unchanged, and offer a dovish stance, all of which weighed on investor's sentiment."