WSE: After start on Wall Street

The opening on Wall Street points to the beginning of another lackluster session. The main Wall Street indexes are in a light shade of red after opening. The WIG20 index decreased by 0.59%, and is five points below the level of 1900 points. From the ... [...]

EUR/USD stabs 1.1060 on US data, FOMC eyed

The greenback keeps the buoyant tone today, sending EUR/USD to test the 1.1060 area following further US publications.

EUR/USD remains depressed ahead of Fed

Spot kept the negative bias despite US Industrial Production and Capacity Utilization results have disappointed expectations during February, contracting 0.5% on a monthly basis and ticking lower to 76.7%, respectively.

Next on tap will be the weekly report on crude oil inventories by the EIA, followed by the FOMC meeting and Chairwoman J.Yellen’s press conference.

EUR/USD levels to watch

The pair is now down 0.31% at 1.1074 facing the next support at 1.1042 (200-day sma) ahead of 1.1025 (55-day sma) and finally 1.0820 (post-ECB low Mar.10). On the other hand, a breakout of 1.1218 (post-ECB high Mar.10) would target 1.1339 (high Fe.9) en route to 1.1379 (2016 high Feb.11).

Trade Federal Reserve interest rate decision - Live Coverage

The greenback keeps the buoyant tone today, sending EUR/USD to test the 1.1060 area following further US publications...

(Market News Provided by FXstreet) [...]

GBP/USD prints fresh daily lows, ignores US data

US dollar continues its good run ahead of Fed rate decision, pushing the GBP/USD pair to a fresh session low of 1.4053 despite weaker US data releases.

Hovers around 61.8% fibo support

The spot currently trades around 1.4065 (61.8% of 1.3835-1.4436) levels. Traders looked through a weaker –than-expected February industrial production data release. The previous month’s figure was revised lower a well. Capacity utilization also printed lower than estimates.

However, markets remain focused on FOMC rate decision. Investors are preparing for a possibility of a hawkish Fed, hence the bid tone around USD remains strong.

GBP/USD Technical Levels

A break above immediate hurdle seen at 1.4135 (50% of 1.3835-1.4436) would expose 1.4159 (daily high) – 1.4164 (23.6% of 1.5230-1.3835), which if toppled out could see prices re-test 1.4220 (falling trend line hurdle). On the other hand, a violation of immediate support at 1.4065 (61.8% of 1.3835-1.4436) could see prices drift lower to 1.4032 (23.6% of 1.4669-1.3835). A break lower would expose 1.40 handle.

US dollar continues its good run ahead of Fed rate decision, pushing the GBP/USD pair to a fresh session low of 1.4053 despite weaker US data releases.

(Market News Provided by FXstreet) [...]