7 Apr 2014
Session Recap: EUR/USD refuses to fall; USD/JPY lower for second day
FXStreet (San Francisco) - After three days of declines the Euro said enough against the US Dollar as investors digested ECB speakers’ speeches. The EUR/USD rose on Monday to test the 1.3750 area and to close around 1.3740.
"A legion of ECB speakers let it be known that the governing council is not nearly as united on the use of unconventional measures as President Draghi would have led up to believe on Thursday," affirmed Jamie Coleman from FXBeat. "Draghi has his work cut out for him in herding the hawkish cats on his governing council," he affirmed in sarcastic tone.
Currently, EUR/USD is trading at 1.3741, up 0.28% on the day, having posted a daily high at 1.3750 and low at 1.3696. EUR/USD spot is in overbought territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish.
On the other hand, the USD/JPY extended declines for second day as the pair tested the 103.00 level ahead of the BoJ rate decision on Tuesday. The pair is currently trading at 103.05, down 0.22% on the day, having posted a daily high at 103.40 and low at 102.99. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is strongly bearish.
Main headlines in the American session
Buba's Weidmann says his view on QE remains unchanged
Constancio: ECB needs to see April inflation data to see to what degree baseline scenario has changed
Bullard says he’s worries about low US inflation but it’s ‘poised to go higher’
Wall Street declines for third day as investors are diversifying
"A legion of ECB speakers let it be known that the governing council is not nearly as united on the use of unconventional measures as President Draghi would have led up to believe on Thursday," affirmed Jamie Coleman from FXBeat. "Draghi has his work cut out for him in herding the hawkish cats on his governing council," he affirmed in sarcastic tone.
Currently, EUR/USD is trading at 1.3741, up 0.28% on the day, having posted a daily high at 1.3750 and low at 1.3696. EUR/USD spot is in overbought territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish.
On the other hand, the USD/JPY extended declines for second day as the pair tested the 103.00 level ahead of the BoJ rate decision on Tuesday. The pair is currently trading at 103.05, down 0.22% on the day, having posted a daily high at 103.40 and low at 102.99. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is strongly bearish.
Main headlines in the American session
Buba's Weidmann says his view on QE remains unchanged
Constancio: ECB needs to see April inflation data to see to what degree baseline scenario has changed
Bullard says he’s worries about low US inflation but it’s ‘poised to go higher’
Wall Street declines for third day as investors are diversifying